BJERRINGBRO, DENMARK – The international debt crisis and the increasing oil prices ‘ as well as growing need for energy efficiency ‘ are the reasons for Grundfos’ focus on internal process efficiency and global sustainability. This resulted in the group, owned by a private foundation, with headquarters in Denmark , and staff in 55 countries, being able to present an annual report for 2010 which Group President, Carsten Bjerg, describes as the best ever for Grundfos.
The 2010 sales reached $3.7 billion with profit before tax reaching $455 million, compared to $3.2 billion and $169.7 million respectively in 2009. With this result the company in 2010 returned to a level of activity equal to those prior to the global financial crisis.
‘This is a good result. Even better than we hoped. It will be used for investments in new growth. For instance, we shall soon be launching new energy efficient solutions that will no doubt attract attention, and we shall continue the globalization of our activities in growth markets,, said Bjerg. ‘The fact that, in a difficult and challenging time, we managed to expand the technological and commercial lead in the market and, at the same time, managed to limit costs, is a strong example of management and staff’s strong performance and cooperation”, said the Group President. ‘Today, we estimate of every tenth newly installed pump worldwide wears the Grundfos name. At the turn of the year the Group even managed to abolish all debts with an interest-bearing net deposit of $325 million compared to net debts of $18 million at the start of the year”, Bjerg summarized. Due to Grundfos’ special ownership, the profit gained will be reinvested directly in the business, with special focus on investments in technology and product development.
Grundfos investments in technology and product development will reach $184 million in the coming year. In addition investments in production equipment will be doubled, for instance with new production facilities in Russia, Serbia and India. ‘The North American region will also bee the beneficiary of some the enhanced investment activity” said Jes Munk-Hansen, Regional Managing Director for North America, commenting from their North American headquarters in Olathe, KS. ‘All Grundfos employees shared in the success as the company announced at Christmas time every employee would be awarded an extra weeks pay” Hansen added.
Grundfos’ economic growth will be used for continuous development and growth. However, the stands firm that the growth must be sustainable and so the company maintains an ambitious goal of never emitting more carbon than in 2008.
For more information, visit the website at www.grundfos.us
ABOUT GRUNDFOS PUMPS:
Grundfos Pumps Corporation, part of the Grundfos Group, is a global pumps and pumping systems leader serving the residential, commercial-building and process-industry markets, as well as being a major supplier to the water-supply and water-treatment industries. Grundfos is known for advanced products, technology and brands including Alldos, Hilge, PACO Pumps, Peerless Pumps, and Yeomans Chicago Corporation. Producing over 10 million pumps each year, Grundfos strives to improve reliability and energy savings, and to exceed customer needs wherever water moves. Grundfos is focused on innovative, sustainable solutions while maintaining the highest ethical standards. Founded in 1945 in Bjerringbro, Denmark, The Grundfos Group is a worldwide enterprise that employs more than 18,000 people in 81 countries with North American headquarters in Olathe, Kan.