Business concept - Group Policy
The Group will maintain and expand its position as global trendsetter within research, development, manufacture and sale of pumps, pumping systems, electric motors and equipment for the transfer of liquids, primarily water.
Concurrently with changes in future requirements, the Group may utilize its technology and know-how for research and development, manufacture and sale of other industrial products.
The Group will perform its activities on the basis of long-term planning comprising general targets and objectives, policies and strategies.
The Group will expand its activities on a sound financial basis attaching special importance to high quality and good customer service, so that the products not only contribute to the progress of the Group but also benefit the communities where Grundfos has companies and where Grundfos products are used.
Each company within the Group shall adapt its growth to the potential of the local community. The Group’s relations with employees, business connections and other stakeholders will be based on high ethics.
The high quality of the products will be based on thoroughly tested designs and the use of the best materials available. Stainless steel is a characteristic Grundfos feature and should be used as engineering material as far as justified by technical and financial considerations.
The Group will aim at achieving a high degree of added value in production and a high degree of automation through mass and series production. The range of products must be sufficiently wide to make the future stability of the Group independent of the sales prospects of a single product but not wider than the profitability can be maintained through optimisation of the number of products.
The Group will set up wholly owned Grundfos companies in all markets where it is considered commercially favourable and where local legislation permits the establishment of such companies. In markets where the legislation requires participation of a local partner, joint-venture companies may be established. In these cases Grundfos should - whenever possible - hold a controlling interest.
In markets where the establishment of a Grundfos company is not commercially attractive, Grundfos will enter into co-operation agreements with a number of local distributors on the representation of Grundfos.
The individual Grundfos companies should feel free and independent in their day-to-day work, but shall conform to the overall interests of the Group.
The Group must remain financially independent of other companies, organizations and institutions in every respect.
High profitability is not an end in itself but a means of continuing the growth of the Group.