1 July 2005

Danfoss buys Swedish heat pump company

DANFOSS A/S has acquired the Swedish heat pump manufacturer Thermia Värme AB.
Danfoss executive vice president and COO, Niels B Christiansen, revealed that the acquisition ThermiVärme was key to the company's future plans. 'Our plan is to create further international growth in the years to come, based on Thermia's leading technological position and strong regional market position,' he said. Flexibility and the integration of, for example, heating and air-conditioning will be key words for indoor comfort solutions of the future.'

Based in Arvika, Thermia Värme employs 230 people and in future will be run as an independent business unit of Danfoss Heating Division.

The Finnish part of Thermia, which produces heat systems for bio-fuels, is not part of the purchase agreement and will continue with its present owners.

Thermia Värmes products are distributed in the UK by Sheffield-based ECO Heat Pumps.

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