Despite the recession, Grundfos has expanded into the Balkans. To strengthen sales in the region, independent sales offices opened in Serbia, Croatia, Bosnia-Herzegovina and Slovenia on July 1.
”The world economy is going through a recession, and Grundfos also is 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,” says Grundfos group executive vice president, Søren Sørensen, who also notes that the Balkans have developed into a market in which Grundfos today has a turnover of more than $28 million. 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 $140 million with great growth potential, due to the need for heavy investments in the infrastructure, including water supply.
In addition to the establishment of the four sales offices, Grundfos has invested in 15 hectares of land in the town of Indjija, north of Belgrade. When the world economy improves, the company will consider establishing a new factory with room for 350 to 500 staff.
Grundfos Expands into the Balkans
July 16, 2009