(THE Grundfos foundATIon) THE POUL DUE JENSEN FOUNDATION The Poul Due Jensen Foundation was established in 1975 when the Grundfos founder, Poul Due Jensen, decided to transfer his ownership in the Grundfos companies to the foundation. Today, the foundation owns 87.6 per cent of Grundfos. The Due Jensen family owns 10.6 per cent and the employees own 1.8 per cent. The Foundation not only bears the name of the founder; as the responsible owner, it also lives out his vision for the continuation and development of the company. of donations to various organisations, projects and activities. The donations belong to one or several of four categories: Natural science, innovation and design, sustainability and environment as well as humanitarian assistance and social responsibility. The Grundfos Prize Every year, the Foundation also awards the Grundfos Prize for the purpose of stimulating, recognising and suppor ting national and international research in ground-breaking and forward-looking solutions that are useful to society within the technical area and area of natural science. The prize was established in 2001. The prize consists of the "be-think-innovate" sculpture and a cash prize of DKK 1m. DKK 250,000 of this amount goes directly to the prize winner, while the remaining DKK 750,000 goes to fur ther research within the area. the scholarship through the scholarship committee of the board of the Foundation. The total annual sum of the scholarship is EUR 25,000 in which case each scholarship will be for EUR 5,000. The scholarships are primarily for studying or training that will provide the recipients with insight, skills development and knowledge within areas that may develop the individual employee to perform his or her tasks with even greater commitment, focusing on the values that Grundfos builds on. Preferably, the scholar ship should be used for studies or training in a country other than the employee’s country of employment. Poul Due Jensen’s Scholarship will be awarded for the first time in 2013. A commercial foundation The Poul Due Jensen Foundation was set up as a commercial foundation whose main purpose is to ensure and suppor t the grow th and development of Grundfos and its af filiated companies. This is ensured by engaging in responsible ownership and by reinvesting the majority of the profit from the company in Grundfos, thus ensuring healthy development and grow th. By doing so, the Foundation also wishes to live up to its own and the Group’s values, one of which is independence. An impor tant objective and means in Grundfos is to provide a solid financial basis to ensure that the company’s future is not or will not be placed in the hands of the financial markets, as this limits the possibilities for development ac cording to the company’s wishes. The Foundation and its Board of Directors have always focused on ensuring and strengthening this value. In close cooperation with both Group Management and the Group Board of Directors we wish to strengthen our independence, freedom to manoeuvre and financial position. This principle has always been impor tant and has helped to ensure that Grundfos has never experienced a deficit. Activities of the year We are pleased to note that, in 2012, the Group managed to navigate and make wise decisions in a turbulent time. Management and employees have created sound grow th, increased market shares and developed our financial position. The result is satisfactory and meets the wishes and expectations that were presented at the beginning of the year. In par ticular, the introduction of a range of new products has been according to plan and has reinforced Grundfos’ position as market leader. The Foundation has been very satisfied with the constructive collaboration under taken with Group Management, the Group Board of Directors and the many employees in relation to developing and strengthening Grundfos. The result for the year shows that the Board of the Foundation, the Group Board of Directors and Group Management share a clear understanding of the company’s objectives and possibilities. This can be seen from the positive result showing grow th in turnover and market shares as well as a continued focus on values such as sustainability, par tnership with customers, independence, focus Poul Due Jensen’s Innovation Award Poul Due Jensen’s Innovation Award is an internal award that will be presented once every year to a Grundfos employee or a group of Grundfos employees (max. three), who have made a very special, inventive and innovative ef for t during the year within the areas of technical innovation, business development, process development or CSR. The award and honour is accompanied by DKK 150,000. Poul Due Jensen’s Innovation Award will be granted for the first time in 2013. Scholarship Poul Due Jensen’s Scholarship is awarded every year to a maximum of five employees in the Grundfos Group who, following recommendation from the local company management, are approved and awarded The Foundation’s secondary activity In addition, the char ter allows the Foundation to suppor t non-profit purposes. Every year, suppor t is of fered in the form
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