Danfoss Discusses Acquisition Mode
Galyen was commenting on a number of acquisitions in recent years and noted how the Denmark-headquartered company was seeking to grow in the Western Hemisphere.
“Those business transactions are part of our global strategy to enhance our products and services in the North American market,” he said. The company’s North American headquarters is in Baltimore.
It was noted that in July 2004, Danfoss A/S and Montreal-based Turbocor Inc. announced the formation of a 50/50 joint venture. Today, that joint venture is known as Danfoss Turbocor Compressors, now headquartered in Tallahassee, Fla.
In September 2006, Danfoss acquired Hago Manufacturing Co. Inc., which produces steel nozzles for large and small oil burners and for other industrial applications.
Hago is now part of Danfoss Burner Components. Danfoss produces brass oil nozzles, whereas Hago produces the steel nozzles. In September 2006, Danfoss completed the acquisition of Scroll Technologies, the Arkadelphia, Ark., manufacturer of scroll compressors for HVACR applications.
“Because the compressor is the ‘heart’ of an air conditioning system, we have the opportunity to continue to advance air conditioning technology for better energy efficiency and responsible use of refrigerants,” said Ricardo Schneider, vice president of global air-conditioning.
The Arkadelphia plant produces compressors from 3.5 to 10 tons, using R-22, R-407C and R-410A refrigerants - suitable for commercial, light commercial, and the upper range of residential air conditioning applications.
Most recently, in December 2006, Danfoss acquired Conyers, Ga.-based Aztec Energy Partners, which provides energy management services to the food retail industry. The two companies have been collaborating since 2004 in the U.S. market, providing equipment and energy savings solutions to food retail customers.
Publication date: 02/19/2007