Aldes approaches Qatar and KSA markets cautiously
Gulf & European markets present manufacturer with distinct challenges
Aldes, the French owned HVAC component manufacturer, faces two distinct challenges from its European and GCC markets in 2012, according to its incumbent chief executive.
In an interview with MEP Middle East, Stanislas Lacroix, the son of the current CEO, said that while the manufacturer looking to grow in the Middle East region, the financial crisis in Europe meant that the company also had to simultaneously focus on consolidation.
“For 2012, we have to work to be more proficient and efficient internationally speaking. Here in the GCC, but also in Europe, we have quite different challenges to face. Macro-economically speaking, we really have to be in the market,” he said.
“Basically, we have to be as clear as possible (in our objectives) and help the team understand the situation. We have to ensure that they’re on the right track,” he added.
Outlining the growth plans for the GCC region, both Lacroix and Gaëtan Pierrefeu, managing director of Aldes Middle East, said that Qatar and Saudi Arabia would be major growth markets for the company.
However, both said that entering the markets in those countries would need to be done with caution and on an individual basis as the situation in each varied considerably.
“There is no (business) model which has been defined to expand in these countries; it’s always a case by case situation. We’re always evaluating what is the potential and what is the current situation. You will not treat Qatar, with a population of two million, a rather small country with big potential, as you would Saudi Arabia, a country with a population of 30 million, with local people forming the majority of the population,” explained Pierrefeu.
“The aim at the end is to be present, whether it be with a 100% owned company, a JV or a distribution agent. It’s under evaluation in all countries and it can change all the time.”