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HiRef opens a new branch in South Africa
Year: 2024
The Padua-based company lands in Johannesburg, the country's most populous city. The HiRef group closes 2023 at 126 million euros.
Alberto Salmistraro, CEO of HiRef: “Our technological drive and ability to adapt to a rapidly and constantly evolving market perfectly match the peculiarities of a territory, such as South Africa, which is experiencing strong growth.”
As one of the main economic powers of the African continent, with a Gross Domestic Product of 406 billion dollars and a high concentration of technology companies, HiRef, one of the most innovative companies in the industrial air conditioning sector, has opened a branch in South Africa, in Johannesburg, the most populous city.
The opening of HiRef South Africa represents for the Padua-based company the confirmation of its focus on a constantly growing market and, in general, on new markets outside of Italy. Out of HiRef's 2023 closing turnover of 71.2 million euros, which rises to 126 million euros when including other group companies (Eneren, Tecnorefrigeration, It.Met, Ecat, Hiref Engineering, and HiDew and foreign branches), the export share accounts for 42.2 million euros. The South African market, for HiRef, has exceeded 8 million euros in the past two years.
A Country in Strong Growth
South Africa is proving to be a flourishing expansion market for Italian companies: exports from Italy have exceeded 2 billion euros for a few years now. Since 2010, South Africa has been part of the BRICS countries (along with Brazil, Russia, India, and China), a group that brings together fast-growing economies. A steady expansion: the GDP growth rate forecast for 2024 is +1.8%.
High Sustainability Solutions
HiRef, a company founded in 2001, offers precision air conditioning systems for technological infrastructures, industrial process air conditioning, and the tertiary sector, providing effective and cutting-edge solutions that promote economic and environmental sustainability. The company targets both the Italian and international markets through a sales network consisting of agencies, distributors, and commercial branches, as well as a strong network of dealers present in Europe, Latin America, and Africa. The group has a total of almost 400 employees. Particular attention is paid to developing talents and skills, collaborating with numerous universities to conduct research and theses. Six out of ten graduates choose to stay, creating a young and dynamic group with an average age of 40 years.