Fluidra has opened a subsidiary in Kazakhstan. The company has acquired the local company Aqua Engineering, a leader on the Kazakh market, enabling the company to benefit from its country knowledge, and providing a solid infrastructure and qualified team.
Eloi Planes, Fluidra’s Chief Executive Officer, commented, “Kazakhstan is a country that offers good business opportunities, and has a strategic location, bordering two giants such as China and Russia, where we are also present. Entering Kazakhstan hand-in-hand with Aqua Engineering will help us make progress in our strategy for growth.”
Founded in 2006, Aqua Engineering is a company specialised in commercialising and installing pools, fountains and spas. With a turnover of approximately 1.5 million Euros, the company has central warehouses and a sales network covering the entire Kazakh territory. Over recent years, the company has conducted more than 20 highlighted projects, such as the construction of pools in different hotels and Almaty gym chains, the installation of fountains in the Dostyk Plaza shopping centre, also located in the country’s former capital, and the installation of fountains in the presidential residence of Karasu.
Fluidra Kazakhstan includes the Aqua Engineering team, and is led by its manager, Mikhail Borisov, who has a proven track record in the business.
Kazakhstan has a population of approximately 17 million people, and its economy is growing at an annual rate of 6%. The swimming pool market offers interesting opportunities, as it is a growth market, in which approximately 700 pools a year are being built, mostly using basic products of Chinese origin. The country also offers opportunities for the irrigation and fluid handling divisions of Fluidra, since the local markets are still underdeveloped and competition is fragmented.