WEG Group’s year-on-year growth expected to continue
July 2013
News
A Group strategy focused on accelerating Brazilian motor and controls manufacturer WEG’s expanding global network of businesses and manufacturing plants, is achieving dynamic year-on-year growth that is expected to gain momentum in the years ahead. WEG is the holding company of Zest WEG Group, a leader in the supply of electric motors, variable speeds drives, transformers and switchgear in Africa.
Harry Schmelzer.
“In 2011, the year in which our Group strategy was launched in the wake of the economic crisis, WEG achieved 19% growth, and we dit it again in 2012,” says Harry Schmelzer, executive president and CEO of WEG. Schmelzer was in South Africa recently to participate in the 2013 BRICS Summit.
The strategic plan is expected to ensure that the WEG Group increases its sales by at least 17% year on year until 2020, when it aims to arrive at a turnover of US$10-billion.
“We are confident that this vigorous growth will continue year on year, deriving from investments and our entry into new markets. We are focused on introducing more products into these markets to increase the reach of our portfolio and on expanding the number of electrical and automation systems on offer,” adds Schmelzer.
“Our business strategy in South Africa aligns with the Group’s strategic plan, with emphasis on exploring sectors of market in which we are not currently active. Customers in various sectors are helping us to identify potential opportunities and these are currently being assessed from a perspective of introducing new products and making acquisitions. For example, we are about to acquire a transformer manufacturing facility in South Africa that will place us in a space that customers have requested.”
WEG will continue to make investments in order to secure business and market share and achieve growth in mature markets, while keeping a close watch on emerging markets, where there is always opportunity to develop.
For more information contact Jamie Wilson, Zest WEG Group, +27 (0)11 723 6000, [email protected], www.zest.co.za
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