Peter Fenkl: “It is vital to be present in diverse markets”
Peter Fenkl, CEO of ZIEHL-ABEGG SE, on the balancing of international markets
How important is it for you to have a presence in diverse markets during increasingly turbulent times in terms of trading policy: which regions do you see providing the strongest impetus for business that helped you to record another very high rate of growth in 2018?
Having a presence in diverse markets is absolutely vital for ZIEHL-ABEGG. This is especially true in these times of near unpredictability on the political front. In this context, the current growth is coming from almost every region in the world. Only China reported something of a slowdown in the pace of growth in 2018.
What role does the major market of Southeast Asia play for you? Do you see this as an alternative, a consequence or a “second pillar” to the expansion in China?
Southeast Asia is still a young market for ZIEHL-ABEGG but one which is developing at a very dynamic pace. We are talking ultimately about approx. 1 billion people with increasing needs as a result of their growing prosperity. Our aim is to fulfil some of these wishes with our products. Fundamentally however, this region is not an alternative for China. The mere line of thought that one region could be considered a substitute for another is out of the question.
The thought that one region could be considered a substitute for another is out of the question
What reasons and locational advantages now specifically favour expanding your capacities in Thailand? What do you have planned there?
Since ZIEHL-ABEGG already owns quite a large plant in China, on risk grounds alone it makes reasonable sense to build a second location in Asia. Thailand offers people who possess both good technical and linguistic training, as well as a good work ethic in a country which is also very attractive in terms of its economy/market.