MILAN, Nov. 29 (Class Editori) – The 2019 of Lu-Ve Group in China will close with double-digit growth. This year turnover grew up by 20%. In the Chinese market, Lu-Ve , the third group in the world specialized in the production of air heat exchangers has found in the demand for fresh products, in the strong expansion of the convenience stores of proximity and in the Winter Olympic Games of 2022 a boost to its activity. "Everything related to the cold chain today has a privileged lane," says managing director Matteo Liberali.
The company listed on the MTA segment of the Italian Stock Exchange can count on the benefits of internal competition between the Chinese provinces to attract foreign investments. At the end of February 2019 it started a new production plant in Tianmen, Hubei. Lu-Ve, underlines again Liberali, is moving in the wake of the strategy of the Beijing government to favor the transfer of investments towards the western and central areas of the country. It should also be read in this light the transfer from the Changshu site, not far from Suzhou, towards the west. With its nearly 60 million inhabitants, Hubei Province is a political, cultural and economic hub. Lu-Ve will enjoy the benefits and advantages that the Chinese government guarantees within the Belt and Road Initiative project, which has the dual objective of connecting China to Europe and attracting the investments of foreign companies in the internal and western areas of the country. The plant, explains Liberali, has actually been handed over on a turnkey basis and to specifications provided to the local government by the same company, which can also count on a free rent for the whole of 2020. Even the times went faster than expected (the first step was taken in March 2018), so instead of losing two months of billing, it was limited to just one month.
The new plant dedicated to the production of ventilated appliances for the local market and the Far East, occupies 15 thousand square meters of the 19 thousand total of the plant, taking advantage of a reduction in rental costs, an increase in the efficiency of production processes and a greater proximity to the main customers in China (some suppliers then even followed Lu-Ve in the transfer to the West). This is an area twice the size of the approximately 7 thousand square meters of the plant that was near Suzhou. The start of the activity of the new plant in Tianmen - which will employ about 90% of the workers previously present in Changshu and which have followed the company - confirms the commitment of the Italian company towards sustainable economic development in China. It will also allow to double some projects, or at least these are the indications coming from the customers, while the group aims to position itself for 2020 and looking at the production of condensers, therefore larger machines, fully exploiting the potential of the new plants.
With an international presence that counts 16 plants in nine countries (with a network of commercial companies and representative offices in Europe, Asia, the Middle East, Oceania and North America), the Uboldo-based group, in the province of Varese, was awarded a prize in the last edition of the China Awards for the Top Investor category (the same was also awarded in 2015). About 80% of turnover (420.7 million euros pro-forma in 2018) comes from abroad, exporting to around a hundred countries.
(Source:Class Editori)
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
