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China set to become Nilfisk-Advance's 2nd biggest market
By Richard Fu |
April 12, 2012, Thursday
|
Online Edition
Online Edition
NILFISK-ADVANCE, a leading manufacturer of professional cleaning equipment, expects China to become its second largest market after the United States in five to 10 years.
"Where the market is really growing in China is what we call the mid-market," Jorgen Jensen, president and chief executive officer of the Danish company, said in an interview yesterday in Shanghai, adding competition is fierce from Chinese manufacturers who have lower production costs.
Nilfisk-Advance is trying to "take the best things from our high-end products, apply them in mid-market products and then manufacture them at attractive cost points," he said on the sidelines of an industry fair.
Its main product lines are professional scrubber dryers, sweepers, vacuum cleaners, and high pressure washers.
He projected China sales to grow more than 35 percent this year from over 30 million euros (US$39.4 million) in 2011, adding vacuum cleaners and outdoor machines will be the key areas of growth. Last year's sales, which accounted for about 5 percent of Nilfisk-Advance's total, ranked China as the company's ninth or 10th largest country market, Jensen said.
Nilfisk-Advance is part of the NKT Group, which is listed on the Copenhagen Stock Exchange.
"Where the market is really growing in China is what we call the mid-market," Jorgen Jensen, president and chief executive officer of the Danish company, said in an interview yesterday in Shanghai, adding competition is fierce from Chinese manufacturers who have lower production costs.
Nilfisk-Advance is trying to "take the best things from our high-end products, apply them in mid-market products and then manufacture them at attractive cost points," he said on the sidelines of an industry fair.
Its main product lines are professional scrubber dryers, sweepers, vacuum cleaners, and high pressure washers.
He projected China sales to grow more than 35 percent this year from over 30 million euros (US$39.4 million) in 2011, adding vacuum cleaners and outdoor machines will be the key areas of growth. Last year's sales, which accounted for about 5 percent of Nilfisk-Advance's total, ranked China as the company's ninth or 10th largest country market, Jensen said.
Nilfisk-Advance is part of the NKT Group, which is listed on the Copenhagen Stock Exchange.
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