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Turnaround for Danish seed processing manufacturer, Westrup. Finally in the black.


Danemark
July 21, 2022

A targeted effort of internal optimization strategies has secured the first positive operating profit for Westrup in years.

Despite the Ukraine war almost putting a stop to the fantastic results, Westrup in Denmark was finally able to present a profit for the fiscal year 2021/22.



Bo Borne Jørgensen, CEO of Westrup A/S


Director for the past two and a half years, Bo Borne Jørgensen, explains how the Danish manufacturing company for seed and grain processing equipment ensured Westrup’s shift from being in the red to now presenting solid results.

“We focused on optimizing our sales architecture and prioritized striking a balance between our main segments across all markets, especially on our key markets, which we have successfully succeeded in growing. Besides this, material prices, electronics and spare parts have gone up tremendously during the past two years, forcing us to pay close attention to our purchasing strategies and overall supply chain. Here we found areas that could be improved on as well to ensure most value in the solutions we offer our customers”, says Bo Borne Jørgensen, CEO of Westrup.

The company’s sales grew stronger last year, as more niche customer requests came in, “One of our main competences is creating customer-focused solutions. Our flexible product portfolio, which now also includes Satake’s color sorters, Simatek’s bucket elevators and NoroGard’s seed treaters, allows us to design customized layouts that solves the task at hand”, says the Director and continues, “We are currently working on a handful of first-of-their-kind projects, that we are very excited about”.

In Close Contact with Ukrainian Customers The global supplier of seed processing equipment presented a USD $300,000 profit to their Indian owners, who were pleased to see the positive turnaround from the past years’ result. The gross profit increased from USD 7.77m. to USD $8.56m. – a number that would have been even higher if not for the tragic situation in Ukraine.
“Ukraine presents a huge market for us, but we do not trade in war zones. Besides this, the Russian market is closed as well as the Kazakhstani market where we had to pull out of several projects because they rely on Russian banks. We are hoping for a peaceful resolution to come soon, and until then the equipment is safely stored and ready to be shipped once there is more stability in the area”, says Bo Borne Jørgensen, who also mentions that Westrup is in close contact with the Ukrainian customers who were supposed to receive their equipment by the end of the fiscal year in March 2022.

Future Profitability The positive effects of the optimization strategies will trickle into the coming fiscal years, meaning the equipment manufacturer is now a money-making company. This was one of two goals, which Bo Borne Jørgensen wished to achieve within his first few years as CEO.

The other goal was to shift focus back to Westrup’s core competences; “We have always been the go-to company when it comes to specialized solutions for seed conditioning and grain processing equipment. Our highly reliant equipment, which has a proven record of lasting for 30-40 years, has the added benefit of being customized to any type of special seed or processing need. This is our core competence”, says Bo Borne Jørgensen who sees a bright future for Westrup.

In July 2022, Westrup also partnered with the Swedish manufacturer of sophisticated seed treaters, NoroGard, and are now in charge of all sales and production of the treaters worldwide. This will be an additional source of revenue to support Westrup’s future profitability in the years to come.

 



More news from: Westrup A/S


Website: http://www.seedquest.com/_yp/w/Westrup.htm

Published: July 21, 2022

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