Grundfos making massive investments in Serbia

The investments amount to 75 or 80m Euro in the coming years with Grundfos establishing a new factory close to Belgrade.

- We are experiencing extensive growth in Central and Eastern Europe and this is the reason why we are now establishing another factory. Serbia is interesting as it has a good location in relation to our growth markets, including Russia, and in addition the country is going through a positive political and economic development. Serious talks are being made regarding the country’s candidature for membership of the European Union already in 2009, said Knud Krægpøth, Senior Vice President responsible for international production in the Grundfos Group.

Grundfos purchased 15 hectares of land in the town of Indjija 42 kilometres north of Belgrade. On this site the establishment of a new factory to house 350 or 500 production staff will start in 2009. The location of the factory will be logistically central, close to the E75 motorway leading directly to Hungary.

Last week Mr Krægpøth had several meetings with the Serbian local as well as national authorities, who were all very enthusiastic about the agreement. Among others, on Friday he met President, Boris Tadic, who was very pleased with Grundfos’ establishment in the country.

The agreement attracted great attention from the Serbian authorities as well as the Serbian media, as Grundfos is one of the first companies from the West investing so heavily in the country.