Ferrum continues expansion
Ferrum adds international subsidiaries in 2022 as well as in 2023.
Ferrum grows its international network with the recent opening of its daughter companies in Bangkok, Thailand and in Solihull, UK.
These two sales and service organisations of Ferrum complement the current set-up with operations in Switzerland Germany Poland, US, Brazil, India and China.
The internationalisation improves Ferrum’s global customers’ access to all products and services.
The local value chain in the subsidiaries continuously expands, currently Ferrum invests substantially in its US presence. More than half of the 900 Ferrum staff in the meantime are based in the international subsidiaries.
The biggest investments for the time being however are being made in Switzerland: coming summer Ferrum will break the ground for an CHF40 million expansion project at the Schafisheim headquarters.
Ferrum will, in the annex building, integrate the parts manufacturing. In the future the complete production will be under one roof.
The record year 2021 with sales of CHF220 million and a 15% EBITDA-margin could not be matched in 2022.
With sales at CHF200 million and solid margins, Ferrum nevertheless delivered good results, specifically in light of the geopolitical difficulties as well as the supply chain challenges, which had quite a negative effect on the business.
“For 2023 we are back on our growth path”, confirmed Beat Bühlmann, executive chairman, Ferrum.
“I am very pleased to continue our international expansion. This spring we will be commencing our operations in Ho Chi Minh City, Vietnam.
“We have a large installed base in this country and expect Vietnam to become even more important for us in the coming years.”
Ferrum regularly looks at opportunities to expand its international footprint. One or two additional international subsidiaries are expected to take up its business by 2024.