Danfoss celebrated its 80th year in business on 1st September.
In a statement the company said: “On September 1, it will be 80 years since Mads Clausen founded Danfoss in his parent’s farmhouse in Nordborg, Denmark.
Since then, the business has grown from a solo enterprise into one of the world’s leading suppliers of energy-efficient and innovative solutions, employing a staff of 23,000 and with sales in more than 100 countries.
Gaining an early footing on emerging markets and a clear focus on innovative products for its customers is part of the reason for this.
Right from the start, Danfoss has had an international outlook. The company began to export to other European countries as early as 1939, and in 1949, Danfoss set up its first foreign sales company in Argentina.
During the 1950s, Danfoss established itself in USA and Germany, and when globalization began to pick up speed in the 1990s, Danfoss was prepared, with factories and sales companies in both Russia and China.
Today, these four countries are Danfoss’ biggest markets.
Niels B. Christiansen, President and CEO, explains: “The global market has been a cornerstone for Danfoss, long before anyone even talked about globalization, and this has provided us with an international position we can be proud of.
We were one of the first to get out there on the large emerging markets and have worked purposefully to build up good relations with our customers and business partners.
Going forward, we will continue to focus on our main markets and the BRIC countries, Brazil, Russia, India and China, while also putting more efforts into new growth markets such as Turkey and Indonesia, where we have already gained experiences.”
Danfoss throughout its 80 years:
1933: Mads Clausen starts the company under the name “Dansk Køleautomatik- og Apparat-Fabrik” and produces the first expansion valves for refrigeration systems.
1939: The first distributor contract is signed with the Dutch firm Itho.
1943: The invention of the radiator thermostat means that room temperatures can now be regulated without unnecessary waste.
1946: The company changes its name to Danfoss, which combines “Dan” in reference to the company’s Danish background with “foss”, which refers to the stream of fluid that flows through the valves and is regulated.
1949: The first 100% Danfoss owned sales company is set up in Buenos Aires, Argentina.
1958: Danfoss establishes sales companies in USA and Germany.
1968: The VLT® frequency converter is invented, and Danfoss becomes the first company to mass produce this technology. Some years later, the frequency converter is used to regulate the speed of the AUDI conveyor belt.
1993: Danfoss establishes a factory in Moscow, Russia.
1996: Danfoss establishes a factory in China. Jørgen M. Clausen, son of the company’s founder, is made President of the Group.
2008: Niels B. Christiansen succeeds Jørgen M. Clausen as President of the Danfoss Group. The same year sees the start of the economic crisis.
2010: In response to the economic crisis and to the challenges faced by the company, the Core & Clear strategy is launched, since when Danfoss has achieved high sales and earnings again.
2013: Danfoss purchases the remaining shares in Sauer-Danfoss, which the company not already owns, and the two organizations are merged.