Statement from President & CEO Kim Fausing: Safety first

Tuesday, March 1, 2022

In statement President & CEO Kim Fausing says it’s always safety first for Danfoss and that Danfoss we will comply with all sanctions.

“What happened on Thursday was shocking and alarming. Fortunately, our crisis team had action plans ready for different scenarios, and we immediately got in touch with everyone in our team in Ukraine. What they are going through right now is hard for the rest of us to understand, but the support they are getting from all over the world, including our colleagues in Russia is really appreciated,” says Kim Fausing.

”In a situation like this, it’s always safety first for Danfoss. We have many important markets, and the Eastern Europe region is certainly one of them, but safeguarding employees is always a priority at Danfoss. We care both for our Ukrainian team and for our Russian team,” says Kim Fausing.

Danfoss has 91 employees in Ukraine and 1,300 employees in Russia. Danfoss has decided to pause all shipments to Russia for the time being.

“For now, we have decided to pause all shipments to Russia, but we still do not know the extent of the new sanctions. The sanctions continue to change, but there should be no doubt that we will comply with them, as we always do at Danfoss. We are monitoring the situation carefully and act accordingly,” says Kim Fausing.

Danfoss integrated annual report will be published on Wednesday, March 2nd, at 9 am CET.