Germany's KSB hopes to boost China market share to 20 pct
Germany's KSB AG, one of the world's largest pump manufacturers, is hoping to boost its market share in China to 20 pct from its current 15 pct within 10 years
BEIJING (XFN-ASIA) - Germany's KSB AG, one of the world's largest pump manufacturers, is hoping to boost its market share in China to 20 pct from its current 15 pct within 10 years, the China Daily reported.
The state-run paper cited Heinz-Juergen Otto, KSB's chief executive, as projecting growth of 25-30 pct this year as part of a long-term expansion plan.
'If we can increase our market share from 14 or 15 pct to 20 pct in 10 years' time, that will be very nice,' he said.
KSB's sales volume in China increased 40 per cent last year to 130 mln eur, accounting for 10 pct of the company's total turnover globally, the paper said.
A major maker of pumps, valves and actuators, KSB started operations in China in the late 1970s.
It currently owns an 80 pct stake in the joint venture KSB Shanghai Pumps Co. It also owns two other companies - Dalian KSB AMRI Valves in Northeast China's Liaoning Province and KSB Valves Shanghai.
The state-run paper cited Heinz-Juergen Otto, KSB's chief executive, as projecting growth of 25-30 pct this year as part of a long-term expansion plan.
'If we can increase our market share from 14 or 15 pct to 20 pct in 10 years' time, that will be very nice,' he said.
KSB's sales volume in China increased 40 per cent last year to 130 mln eur, accounting for 10 pct of the company's total turnover globally, the paper said.
A major maker of pumps, valves and actuators, KSB started operations in China in the late 1970s.
It currently owns an 80 pct stake in the joint venture KSB Shanghai Pumps Co. It also owns two other companies - Dalian KSB AMRI Valves in Northeast China's Liaoning Province and KSB Valves Shanghai.
