Grundfos invests heavily in Turkey
Grundfos has invested US$4.81 million in new facilities in Turkey, and last Friday the Group inaugurated an assembly plant as well as a new sales office on the outskirts of Istanbul. Already in 1998, the Danish pump manufacturer established a sales company in Turkey, and during the past few years this company has experienced annual growth rates of about 50%, and last year the total turnover amounted to US$26.4 million...
BJERRINGBRO, Denmark, Sept. 26, 2005 -- Grundfos has invested EUR 4 million [US$4.81 million] in new facilities in Turkey, and last Friday the Group inaugurated an assembly plant as well as a new sales office on the outskirts of Istanbul.
Already in 1998, the Group established a sales company in Turkey, and during the past few years this company has experienced annual growth rates of approx. 50%, and last year the total turnover amounted to EUR 22 million [US$26.4 million].
"We consider Turkey an important market. The country already has a large and rapidly growing home market, and if we look ahead Turkey will no doubt become an important pierhead for Europe to the Central Asian area," says Executive Vice President of Grundfos Soeren Soerensen.
The Group expects the high growth rates to continue in the years to come and a doubling of the turnover in Turkey during the next three years, and with the establishment of the assembly plant in the country it has now become possible to make an even more dedicated effort in the Turkish market.
With the large investments, the Group wishes to signal its confidence in the market opportunities of the country and in Turkey becoming one of the new partners of an enlarged Europe.
Grundfos currently employs 45 staff in Turkey, and during the next three years the company expects to increase this number to 100 employees.
Based in Denmark, Grundfos (www.grundfos.com) has an annual turnover of over EUR 1.5 billion [US$1.8 billion] and 12,000 employees. The Group has production companies in 12 countries and sales companies in 40 countries worldwide. It supplies pumps for a wide range of purposes, e.g. in the building and manufacturing industries as well as for dosage, water supply and wastewater, and furthermore it manufactures motors and electronics. The Group already has a series of activities and a total turnover of about EUR300 million [US$360.6 million] in Germany.
[US$1 = EUR 0.831]
• Meet one of our Turkish Grundfos customers
The products that Grundfos sells in the Turkish market very much reflect the fact that the country is experiencing rapid growth, as they are mostly pumps for:
-- integration in heating systems
-- industrial production
-- water supply
-- air conditioning
Click here for more.
• Sponsorship creates experiences for Turkish children
For two years, Grundfos has had great success with a very special sponsorship in Turkey.
Together with the Rahmi Koc museum in Istanbul, the company has created a museum bus, which brings knowledge of technology to children in the rural districts and at the same time gives them a museum experience, something they do not normally have access to.
Learn more about the mobile technology museum Musebus. (short video): Click here for more.