Danish-based multinational company Grundfos, specializing in pump and water technologies, is continuing to focus on Sri Lanka which is one of the emerging markets, a top executive of the company said.
Despite the significant impact of COVID-19 on markets globally, Grundfos has enhanced its engagements in the country’s commercial building services, water utility, and supporting industry with modern pump and water solutions.
In the upcoming years, the company will expand its presence in the industry segment to support the post-pandemic growth of the economy and new facility investment in the country
Currently, it is focusing on supplying solutions for water treatment and flood control to water utilities in the country, as well as solar pumping solutions for the agriculture sector, Country Manager for Grundfos Singapore, Ki Woong Ahn said.
For the commercial building services segment, they are providing pumping solutions for new construction projects for office buildings and hotels in the island, he added.
Recently, Grundfos has secured a large water treatment plant project as well as a few flood control projects in Sri Lanka. "We are also working on some new projects in commercial building services in the Colombo region and a water utility project near Attanagalla," he noted.
This year, it has supplied and successfully installed water pump systems in the Ambatale and St. Sebastian flood control projects.
The Danish company applied Computational Fluid Dynamics (CFD) simulations to optimise the design of their pumping stations for both these projects, Kl Woong Ahn discIosed.
Based on company market experience and proven technology, flood control will continue to remain one of our focus areas in Sri Lanka, he added.
The company’s realised sales in the first six months of the year have been similar to sales in 2019 owing to the backlog from last year.
However, COVID-19 has impacted its new order intake, which has been lower than 2019 as customers across different industries and sectors have been affected by the pandemic, he revealed. .
Grundfos expects this to have an impact on the sales for the second half of the year and its focus right now is to stay agile and continue serving customer needs diligently to ensure our business remains sound amid these challenging times, Woong Ahn said.
Persistent uncertainty in all markets influences the business outlook for the second half of 2020 and for the full-year outlook.
The global markets are to remain negatively affected by COVID-19, and the company expects a full-year decline in sales compared to 2019.
"In light of the global crisis, we are satisfied with our financial performance. We and most of our customers are impacted by COVID-19," Mads Nipper, Group President & CEO of Grundfos said in a special statement .
"Our main priority is the health and well-being of our employees and partners, and ensuring our ability to supply our customers," he added.