”The world economy is going through a recession and Grundfos is also influenced by it. However, our expansion in the Balkans has been carefully considered and is a clear expression of our long-term business strategy for the region,” said Grundfos Group Exec. Vice Pres., Søren Ø. Sørensen, who also said that the Balkans have developed into a market in which Grundfos today has a turnover of more than Euro 20m. In addition the region is facing large investments in, for instance, water supply and sewage.
The pump market in the Balkans, from Slovenia in the north to Albania in the south, is estimated at more than Euro 100m with great growth potentials due to the need for heavy investments in the infrastructure, including houses and water supply.
”Grundfos has high competence in water supply and sewage and we are aware of a general need for investments in this area. There is also a growing need for renovation and replacement in the existing housing stocks where there is a growing awareness of energy efficiency and this awareness makes energy efficient Grundfos pumps a very relevant item.
With independent sales offices in Serbia, Croatia, Bosnia-Herzegovina, and Slovenia, Grundfos will be closer to this market than ever. We are seeing great growth potentials in the coming years and we expect to double turnover in the Balkans within the coming 5 years, ” said Mr Sørensen.
In addition to the establishment of 4 sales offices, Grundfos has invested in 15 hectares of land in the town of Indjija, 42 km north of Belgrade. When considerable improvements are obvious in world economy, we shall consider establishing a new factory with room for 350 to 500 staff.
”Our commitment and investment in Grundfos Balkan shows that, despite recession, we seek new possibilities, investing in the future and new markets where our products can make a difference when it comes to improving living standards and sustainability,” said Mr Sørensen.