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Home heater and water heaters OEM Ficosta (Shumen, Bulgaria) will ship 100,000 Tesy brand tankless water heaters and 10,000 Tesy brand electric water heaters to Russia this year, according to Dnevnik. Todor Lilov, head of marketing, said the shipments will increase the company's market share from 6 percent to 10 percent. Russia is said to be the fastest growing market for electric water heaters in Europe, with demand rising 10-20 percent annually.
Ficosta also signed contracts during the recent Domotechnica trade show in Cologne, Germany, to produce 10,000 oil-filled radiators manufactured under the brand of Chinese OEM Haier. It will also export 3,000 units under the Tesy brand.
Ficosota's production plan for this year includes:
350,000 oil-filled radiators
300,000 water heaters
30,000 gas heaters
90,000 fan heaters
The Dnevnik report quotes Lilov as saying the company is poised for 100-percent growth in heaters, which will make it the number 5 manufacturer in Europe.
The company sells its products in 44 countries and is looking to North and South America for market expansion.
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