Danfoss has sold its Household Compressors business to German firm Aurelius for an undisclosed sum.
Despite the name, the business makes hermetic compressors for light commercial and mobile applications, as well as domestic fridges and freezers. It employs 3,000 people in Germany, China, Slovenia and Slovakia and has a revenue of 400 million Euros.
Dr. Dirk Markus, CEO of Aurelius said the firm plans to further grow the business, by investing into extensive product development with high energy performance as one of the important key elements. “New high energy efficient compressors will be introduced to the market soon. Together with next years’ heavy investments in a new innovative compressor solution, it is clear that this business settles as a long term supplier of compressors.”
Nis Storgaard, Chief Development Officer of Danfoss said: “As Danfoss has chosen to prioritise other areas within climate and energy, we are happy that Aurelius will provide good and responsible ownership and support Household Compressors towards a long term strategy as a leading player in their business area.”