Fagor plans its expansion into China, North Africa and the Middle East

In accordance with its strategic plan

The objectives are brand expansion and recovery of the lost position at the national level.

---

The appliance manufacturer Fagor, which recently went through a serious crisis and subsequent acquisition by the group CNA, has set itself a goal for 2017: to open up to three different manufacturing plants in three strategic locations: Middle East, North Africa and China.

 

This is a strategic plan created by the new management to ensure that the company and the technical service Fagor regain the second position lost in the Spanish market a few years ago and, in the process, achieve remarkable growth worldwide.

 

As we said, that position of honor was lost by the company during the bankruptcy proceedings it went through at the beginning of the decade, which resulted in an award by CNA, a Catalan company that is planning to relaunch this well-known and prestigious brand.

 

Thus, according Jorge ParladéThe president of CNA, the strategic plan initiated for this 2017 should lead the company and the Fagor technical service to bill around 350 million euros, employing the not inconsiderable amount of 705 people in the next five years.

 

These are tremendously positive figures for a company that expected to close 2016 with a turnover of 126,5 million euros, an increase of 36% compared to the previous year and a maximum of 10 million euros in EBITDA.

 

 

Other expansion targets include Morocco, the Mediterranean, and Eastern Europe.

 

 

Today, Fagor is headquartered in Arrasate-Mondragónalthough its production centers are spread throughout the Basque Country and China, places from which subsequent export to four continents is facilitated.

 

The planned expansion by CNA This involves the opening of three more production plants. Their locations will be in China, the Middle East and North AfricaAccording to Parladé, before the end of this year 'we hope to start production in at least one of these factories'.

 

This is all part of a carefully planned strategy to expand into important markets, such as United States where the company and Fagor technical service are leaders in pressure cooker sales. Other objectives are Morocco, the Mediterranean or Eastern Europe.

 

All this to achieve positive expansion for a historic brand in the Spanish market and, incidentally, regain second place in the national household appliance market by 2019.

 

If the objectives were met, the group CNA It expects to close 2017 with a turnover exceeding 400 million euros, representing 30% growth. It's worth noting that some of its main brands are... Edessa, Aspes, Nodor, or Splendid.