Clyde Bergemann: decision to invest in Estonia was the right one

26.07.2013, 14:16

Franz Bartels, CEO of Clyde Bergemann Power Group, says that he is very happy with the decision made twenty years ago to build a plant in Tallinn, writes Postimees.

Speaking at the occasion of celebrating the 20th anniversary of Clyde Bergemann Eesti, Bartels who himself became Group CEO in 1992 explained that the group which has 30 offices worldwide and head office in Germany decided to set up a plant in Estonia for several reasons.

“The key reason was that Estonia is close to such large markets as Russia, Finland and Ukraine. We also found a industrial building that had been used for producing similar equipment and there were skilled and qualified workers.”

“At that time it was a big risk for us, but now we understand that we made the right decision,” he adds.

Speaking of recession, Bartels said that since the company is manufacturing power sector equipment such as control systems, diagnostics systems, capacitors, etc. and people need electricity also during recession, the company was not badly affected by the crisis.

Clyde Bergemann Eesti ended 2012 with a profit of 0.2m euros at revenues of 6.9m. A year earlier, the results were a profit of 0.3m and revenue of 6m euros.

Group revenues totaled 500 million euros last, up from 25m in 1992. The group employs more than 1,700 people worldwide, including 110 in Estonia.