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Danfoss enters into joint venture with TSRE in China

25 September 2008
Danfoss Systems & Assemblies (SA) has entered into a joint venture agreement with Tianjin Sanhua Refrigeration Equipment Co., Ltd, (TSRE), China’s largest sales and distribution network within refrigeration. When the agreement comes into effect in January 2009 Danfoss will own 51% of the joint venture of Danfoss Fumao (Tianjin) Condensing Unit Co. Ltd.
Danfoss Fumao (Tianjin) Condensing Unit Co., Ltd has 70 employees and is located in Tianjin, about two hours drive from Beijing, China. The joint venture company will focus on developing, producing and selling products for the Chinese commercial refrigeration market.

Karsten Vinther, Vice President, Danfoss Systems & Assemblies (SA), says that the joint venture unites the Danfoss brand, technology and main components with the manufacturing setup and well established sales network of TSRE.

Senior Vice President, Leif Fløjgaard, Danfoss Commercial Compressors says:
“We are very pleased to announce this joint venture with TSRE. We have had long-term cooperation with TSRE, which is one of our largest wholesale partners within Refrigeration & Air Conditioning. The joint venture will benefit both companies and reflects our belief that China will continue to be a growth area for Danfoss.”

For further information:
Vice President Systems & Assemblies Karsten Vinther, tel.: (+49) 461 4941 202 / +45 23 28 32 49
Senior Vice President Leif Fløjgaard, tel.: +33 4 7400 9555 / +33 6 3446 0735

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