Grundfos reports sales growth and investment plans

Growth of 4% last year saw global sales of Grundfos Group top £1 billion, with the milestone of aggregate sales of 10 million pumps being achieved. Pre-tax profit increased by 48%. Investment in product development reached its highest-ever level, at over £80 million. This figure is being boosted to £85 million for 2004. Significant plans for 2004 include opening new sales companies and expanding production in both Hungary and China, and establishing production sites in India and Russia to ensure that the supply chains are in place to meet continued strong growth. In the UK, a major investment programme is planned in production capacity, sales resources and service backup — following record sales in 2002 and 2003. Building-services sales teams are being strengthened by 10 people, with the primary focus on the consultant/contractor markets in Manchester and london. Peter Reynolds, director for commercial building services, will head the team. Particular focus will continue to be placed on environmental and life-cycle-cost issues as Grundfos continues to develop variable-speed products and offer easier ways of calculating actual payback periods. With sales in the commercial sector running at £25 million, Duncan Cooper, Northern European managing director, says, ‘In line with our escalating growth in the commercial market, we will continue to invest in our capacity, range and organisation to ensure the continuation and consolidation of our UK expansion plans.’
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