Danfoss Announces Intent to Acquire BOCK
GERMNAY — Danfoss announced the intent to acquire compressor manufacturer BOCK GmbH, headquartered in Frickenhausen, Germany. Developing compressors for the natural refrigerant CO2 since 1993, BOCK is a global technology provider in the field of environmentally friendly, economical compressors.
With the acquisition, Danfoss adds a portfolio of semi-hermetic compressors for natural refrigerants such as CO2 (R744), hydrocarbons, and other low-GWP refrigerants to its already strong portfolio of oil-free centrifugal compressors, inverter-scroll, reciprocating and screw compressors, and condensing units.
According to the International Institute of Refrigeration, refrigeration technology and air conditioning take up about 15% of the electricity consumption worldwide, making the quest for energy efficient solutions ever more relevant. Intelligent solutions, combining high energy efficiency and low-GWP refrigerants, both natural and synthetic, are the road to sustainable refrigeration and air conditioning. By acquiring BOCK GmbH, Danfoss takes a proactive approach to further the development and use of low-GWP refrigerants to help abate global warming and to ensure the competitiveness of the industry.
With an existing workforce of around 350 compressor specialists worldwide and four manufacturing sites in Frickenhausen, Germany, Stribo, Czech Republic, Bangalore, India, and Suzhou, China, BOCK GmbH has built a strong reputation as a compressor manufacturer serving mobile and stationary refrigeration systems in transport, bus, retails, logistics, storage, and food processing.
The intent to acquire BOCK GmbH comes with a firm commitment to invest in the business, paving the way for green growth, and a more sustainable, energy efficient, and decarbonized future. Danfoss is confirming its pledge to speed up the green transition by broadening its scope of sustainable technologies.
“The CO2 market in North America is expected to grow at a rate of 45% over the next four years. The Bock portfolio together with other CO2 products developed by Danfoss will help to support this transition in the food retail market," said Luis Tovar, sales development manager for commercial compressors for Danfoss North America.
“The acquisition will create a unique position in the market for Danfoss’ Commercial Compressors business, and our customers will benefit from a complete compressor portfolio including semi-hermetic compressors for CO2, which will help in the transition to alternative refrigerants and greater energy-efficiency," added Danfoss Commercial Compressors President Kristian Strand.
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“This really is an exciting moment for all of us. After our strong and successful growth in the last 2 years, now becoming part of the Danfoss family will open new business opportunities for BOCK," said BOCK CEO Dr. Marcus Albrecht. "Based on our close partnership, we can say with certainty that together we are ideally positioned to become one of the strongest players in the compressor business globally. Not only do we share the same ideas of how to develop the business, but we also have the same values when it comes to our people and how to drive growth.”
The new compressor business from BOCK GmbH will be managed by Danfoss Commercial Compressors, part of Danfoss Climate Solutions.
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