Ferrum, an international company of Swiss origin, decided to expand its borders and open two new companies last year. And as if that were not enough, the next subsidiary began operations in early 2023. Although 2021 was a great year for its financial organization it was not possible in 2022 to achieve the same results, however Ferrum aims to continue expanding its horizons both in Switzerland and in other countries.
The multinational recently announced new openings in two countries, Bangkok, Thailand and Solihull, UK. These new sites join the Ferrum network, which already had a presence in Switzerland, Germany, Poland, the United States, Brazil, India and China. Internationalization offers Ferrum’s global customers faster and better access to all products and services. The local value chain in the subsidiaries is continuously expanding; Ferrum is currently investing substantially in its presence in the United States. Meanwhile, more than half of Ferrum’s 900 employees work in the international subsidiaries. However, the biggest investments at the moment are being made in Switzerland: next summer, Ferrum will start a CHF 40 million expansion project at the Schafisheim site. Ferrum will integrate parts manufacturing in the annex building. In the future, the entire production will be under one roof.
The record year 2021 with sales of CHF 220 million and an EBITDA margin of 15% could not be matched in 2022. With sales of 200 million Swiss francs and solid margins, Ferrum performed well; specifically in light of geopolitical difficulties, as well as supply chain challenges, which had a rather negative effect on the business.
“By 2023 we are back on our growth path,” noted Beat Bühlmann, CEO of Ferrum. “I am very pleased to continue our international expansion. This spring we will begin operations in Ho Chi Minh City, Vietnam. We have a large installed base in this country and expect Vietnam to become even more important for us in the coming years, Bühlmann concluded. In addition, Ferrum regularly seeks opportunities to expand its international presence. One or two additional international subsidiaries are expected to take over its business by 2024.
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