Germany-based Viessmann, one of the leading European producers of heating systems is interested to start production on the Romanian market by relocating some of its production facilities from Germany, sources close to the company told Ziarul Financiar.
If the Germans decide to move production facilities to Romania, that would make Viessmann the first foreign investor that manufactures heating systems here, considering the only wall-mounted heating systems maker on the market is the Koeber Group via its Vaduri branch (Neamt County).
Several German companies, including industrial giant Siemens, have announced plans to relocate production facilities to Romania lately, relying on the low cost and highly skilled work force available in this part of the world.
Estimates point to sales of heating systems in the range of 160-190 million euros.
"Romania is an interesting market for Viessmann. It is one of the target markets for wall-mounted heating systems. We plan to become a top three player on the market of wall-mounted heating systems in five years," stated Olimpiu Achim, general manager of Viessmann SRL, the local branch of the German company.
He added the goal could be reached by using the current sales structures, which currently rely solely on imports. Viessmann, a player on the premium heating systems segment, was not affected in any way by the unprecedented decline of the market in Romania.
On the contrary, the German operator has already seen sales go up 6% in euros in the first eight months of this year, to about 18 million euros.
"The market is going down. Our estimates show overall sales will reach 130 - 140,000 units this year compared with 220,000 in 2003. The market of wall-mounted heating systems, among others, was overheated by the credit market last year," says
