23 May 2006
Danfoss expands heat pump interests
DANFOSS has increased its penetration into the heat pump market with the acquisition of Swiss company Steinmann Apparatebau AG.
This latest move follows the purchase of Swedish heat pump manufacturer Thermia Värme towards the end of last year
Steinmann is a family-owned business, founded in 1982 and employing 25 people. Annual turnover is approximately £2.5m.
'We have high expectations that we can grow our heat pump business significantly throughout Europe over the coming years,' commented Danfoss executive vice president Niels Bjørn Christiansen.
Danfoss's heat pump business currently boasts an annual turnover of around £36m.