China will play a critical role in Swiss firm Georg Fischer Ltd's goal for profitable expansion through to 2020, according to its President and CEO Yves Serra.
The industrial conglomerate aims to grow business by 20 percent from 2015 to 2020, with a critical pillar being China's vast market bolstered by urbanization drive and robust economic activity, Serra said.
"We must be strong where the markets are, and a balanced presence worldwide reduces the impact of regional crisis," he told China Daily in a recent interview.
China currently represents roughly 20 percent of its 3.74 billion CHF ($3.98 billion) recorded in the fiscal year of 2016. Through three business units, the group supports transport of liquids and gasses, provides lightweight casting components in vehicles and offers high-precision manufacturing technologies.
With China on the cusp of being a world leader for new energy cars and home to around 40 percent of the machine tool business, Serra is confident to reap solid growth in revenue and profit through continued expansion of all three sectors in the country.
"From lightweight vehicles to the need for water treatment, this constant call for quality of life is bringing us substantial opportunities here," he said.
To be specific, the company will increase the share of high-end products like sensors, valves, and automation through its piping systems arm. It also intends to invest more in machining to offer ready-to-mount components, and strengthens presence in aerospace, information technology, and laser texturing as well as 3D printing machines.
Today the group has more than 20 companies throughout China including 14 production companies.
He also praised Beijing's Made in China 2025 Initiative, which is designed to notch up China's manufacturing quality through innovative endeavors.
"It (the plan) would help boost our business here because it demonstrates how quality makes a difference," he said.