Thursday, October 09, 2014: Grundfos, the global water pumps major, has strategised to grow its revenues to almost double (around $100 million) of current profits ($50 million) during the span of next five years. The company has made an investment of 40-50 million euros for the purpose. As a part of its plan, the company has decided to set up a plant in North-West part of the country.
Carlo Prola, group senior VP at Grundfos Management A/S, said that the company would invest in growth by using waste water management solutions, solar-powered equipment and pre-fabricated pumping stations in the Indian market.
He further added that the company aspires to be seen as trendsetter in water technology. To attain the desired results, the company has made 5 per cent of its investment in research and around 1-2 per cent in marketing. Till now, the Indian subsidiary has established the solar solution plants at Maharashtra, Madhya Pradesh, Uttar Pradesh, Bihar, Chhattisgarh, Gujarat, Andhra Pradesh and Tamil Nadu and have sold over 9,000 solar pumps locally.
The company has its presence in 55 countries. It has planned to source raw material and thereafter, to locally develop customized products depending upon the market requirements.
