Danish Multinational to engage M&A in Sri Lanka
Grundfos, a global pump and water technology giant, is committed to enhancing its commitment to Sri Lanka and becoming the market leader, a top executive of the company revealed. Grundfos was founded in 1945 and is the world’s largest water pump company providing more than 17 million units per year. His net turnover in 2018 was Danish Kroner’s 26.7 billion ($4 billion or Rs. 714 billion). In 56 nations, it has nearly 20,000 staff.
In Asia, where Grundfos is sold in almost 20 nations, it is the leader, and industry alternatives account for more than 40% of its national revenues. Grundfos has supplied world-class pumps in Sri Lanka for over 25 years and is one of the significant providers described. The focus is on becoming the market leader.
The firm offers energy-efficient pumps and intelligent pumping solutions across multiple sections, including national and commercial buildings, sectors, water utilities (water and wastewater management) and renewable energy pumps. In Sri Lanka, the firm disclosed double-digit development. Emphasis is, however, on further accelerating development and reaching more clients. Singapore Headquarters has set up a representative office in Colombo for sales support manufacturing and logistics.
Grundfos works for commercial construction services, Sierra Engineering and Construction Ltd. with four partners Hayleys PLC Group to obtain new companies and serve clients in Sri Lanka. The 47-story blended development – Colombo City Center, for which it supplied SEV wastewater pumps, and MPC hydro booster stems for plumbing and sanitary applications, is among the latest milestone projects of Grundfos.
Grundfos’ other major initiatives include pressure boosting and wastewater alternatives for the Coca Cola plant in Biyagama, the Unichela plant in Panadura and the MAS Intimates plant in Ratmalana, chilled water circulation and distribution, and Unilever’s automated chemical water consumption for its plant in Horana. Grundfos lately obtained two flood control agreements, including the Ambatale project, according to Grundfos Asia Pacific Region Regional Director Business and Product Portfolio – Water Utility Tan Chee Meng.
Sri Lanka’s focus involves construction facilities, particularly recent projects providing a booster system, sewage transportation and fire pumps package for hotels, blended office, and condominium growth, and public buildings. High-efficiency circulator pumps installed by Grundfos last year helped save 8 billion kWh of energy, equivalent to 4.8 million EU residents. In developing nations, it also has 200,000 solar-powered water pumps installed.
OSL Take:
Grundfos’ plan to expand in the Sri Lankan market and establish more new plants in the area is a clear sign of Sri Lanka’s private sector’s strength and development. The country’s business-friendly financial policies and the business environment’s ease have helped companies flourish in Sri Lanka. Therefore, foreign companies/investors can explore investment possibilities in Sri Lanka with confidence.
| Article Code : | VBS/AT/02102019/Z_T1 |