Today Danfoss A/S has signed an agreement for the take-over of 100% of the share capital of the Swiss company Steinmann Apparatebau AG, which produces and sells heat pumps. The company employs 25 people and has an annual turnover of approx. 27 million DKK. The company is family-owned and was founded in 1982 by the current owner, Manfred Beerhalter, who will continue working at Steinmann.
The agreement must be seen in the light of Danfoss entering the Heat Pump market in the fall of 2005, where the Swedish company Thermia, which is one of the leading European manufacturers within this area, was acquired. Thermia is headquartered in Arvika, Sweden, and has since then been established as competence center of Danfoss Heat Pumps.
"We have high expectations that we can grow our heat pump business significantly throughout Europe over the coming years. This agreement provides us with attractive access to one of the largest heat pump markets in Europe. Steinmann is already a known and respected name in the Swiss market and their products will be a strong supplement to our current product range. We consider the agreement with Steinmann as the right platform, on which to create a strong position in the Swiss market", says Danfoss Executive Vice President & COO Niels Bjørn Christiansen.
Both ground/water and air/water heat pumps have a large potential in Switzerland.
"This is a very interesting and great development for us. Both companies represent future techniques and good quality, and this means sound heat economy and comfort for the customers. Our goal is now to work in the long term, and with this in mind we will be increasing our sales force in Switzerland in the near future", says Heinz Piller, Managing Director of Steinmann.
The Danfoss' Heat Pump business currently has an annual turnover of approx. 400 million DKK, the majority of sales stems from Sweden.
For further information:
Ole Daugbjerg, Vice President Corporate Comm. & Reputation Management, on phone no. +45 2424 8815
Mats Bergsjö, Senior Vice President Danfoss Heat Pumps, on phone no. +46 702 48 1387