Last year, to meet increasing product demands, Kamstrup unveiled a new technology wing, in what was the fourth extension since 2012 to its headquarters in Stilling, Denmark.
And construction of new facilities for production and development of water solutions is already well underway. Due to open in May, the facilities will be more than 10,000m2 (107,600 ft2).
“The automation of our production facilities and digitalization of internal processes give us the quality as-surance and flexibility we need to provide our customers with tailored, best-in-class metering solutions. In an ever-advancing technologically dependent landscape, this is a must,” says Asmussen.
“At the same time, we’re on a shared journey with utilities to digitalize every aspect of their business through intelligent metering solutions and manageable data analysis. The digital utility movement is here, it’s thriving, and will continue to expand throughout the world,” explains Asmussen.
Kamstrup’s growth is forecasted to march on in 2017 on the heels of the aforementioned investments and product development.
The company has started the year with a record first quarter and expects to finish the year with sales of EUR 275 million ($293 million).
Rising interest in the new solutions Kamstrup has developed is fuelling growth and resulting in a raft of large orders, particularly in the global water metering market.
Consequently, Asmussen expects Kamstrup to gain further market shares in a number of regions and increase its total revenue again in 2017.
Part of the global expansion involves the establishment of production facilities outside of Europe in order to increase customer proximity in these markets, Asmussen says.
He adds that the company will continue to invest heavily in product development and production technology alongside talent procurement.
For several years now, Kamstrup has hired more than 100 new staff each year, predominately within development, sales and marketing, and in 2017 this trend will continue.