De Telegraaf: “Kendrion is seeking to accelerate its expansion in China”
"The name Kendrion may not be widely recognized among the Dutch population, but it boasts an impressive annual turnover of EUR 519.3 million. Van Beurden explains, "Many people are unfamiliar with us because we operate at a considerable distance from the consumer. Rather than manufacturing complete electric motors, we specialize in producing parts for electric motors. We operate within the high-quality manufacturing industry and hold a market share of 15 to 20% in the markets where Kendrion is active."
Despite having a small head office in Amsterdam Zuidoost with only 17 employees, they oversee operations in twenty factories across nine countries. Last month, Kendrion expanded its capacity in the Chinese city of Suzhou by 50%, reflecting its ambitious growth plans. Van Beurden emphasizes the rapid pace of growth in China, "When I joined in 2016, China accounted for 3% of our turnover. Currently, it stands at approximately 10%, equivalent to EUR 50 million, and within three to four years, we expect it to double to EUR 100 million."
Kendrion envisions future growth opportunities in renewable energy and the energy transition, particularly in the production of components for wind turbines and electric motors for industrial applications. The company has decided to discontinue investing in parts for fossil fuel cars. Van Beurden adds, "When I joined in 2016, two-thirds of our turnover came from the automotive industry, and one-third from the industrial sector. Now, 45% of our turnover comes from the automotive industry, while 55% comes from the industrial sector."
By GERT VAN HARSKAMP
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