Danfoss has acquired full ownership of the joint venture Danfoss Turbocor Compressors, in which Danfoss has had a 50 per cent owner’s share since 2004.
The company develops, produces and markets compressors which are primarily used in large commercial air-conditioning applications and they are characterized by being oil-free and highly energy-efficient, among others.
According to Executive Vice President & COO, Kim Fausing, the acquisition is set to secure Danfoss’ leading position within variable speed compressor technology and thereby give the Group decisive strategic advantages in the global refrigeration and air-conditioning market. He is therefore pleased to welcome Danfoss Turbocor and its employees as full members of the Danfoss family:
”We already have a strong position in the market for small and medium-sized commercial compressors. With full ownership of Danfoss Turbocor Compressors, we now have sole ownership of a unique but already market mature technological platform, which is fully aligned to our climate & energy strategy. At the same time, we expand our product portfolio to include larger commercial compressors. And especially, we get better opportunities to fully leverage the Danfoss Group’s strong global position to expand and develop the Danfoss Turbocor Compressor business,” says Kim Fausing.
Danfoss Turbocor Compressors is headquartered in Tallahassee, Florida, and has around 200 employees. The company becomes part of the Danfoss Commercial Compressors division but will continue to operate as an independent business. The parties have not disclosed the purchase price or other conditions of the transaction.