The Danish billion-dollar company Danfoss has chosen to sell one of its subsidiaries to Siemens. It concerns the company Danfoss Fire Safety, which specializes in fire safety and has customers in the offshore industry, among other things. Siemens announced this in a press release on Tuesday.
Danfoss Fire Safety has around 125 employees. Most of them work in Odense. They will now be part of the Danish part of the German giant. With the acquisition, Siemens will strengthen its position in the fire safety market. This is according to Andrea Waenerlund. She is the head of Siemens' Danish business.
- By acquiring Danfoss Fire Safety, Siemens will be well equipped to meet the increasing demand for sustainable solutions within fire extinguishing. The expansion of our product range will enable us to more effectively meet the specific requirements of the well-established construction market, including rapidly growing industries such as data centers, says Andrea Waenerlund in the press release.
Fire extinguishing not a high priority for Danfoss
Danfoss is among Denmark's largest companies. The company is best known for its production of thermostats. However, Danfoss also makes many other things, including valves and cooling systems. Fire extinguishing, on the other hand, is not a high priority for the company. Therefore, the business is now being sold. This is stated by Troels H. Petersen, who heads the mergers and acquisitions department at Danfoss.
- Danfoss Fire Safety has grown into a global leader in sales, development, production and service of certified stationary fire extinguishing systems.
- However, it falls outside our strategic focus. We are convinced that the company, together with the colleagues in Fire Safety, will thrive under Siemens’ ownership, he says.
Before the acquisition is final, it must be approved by the authorities. Siemens expects the sale to be completed by the end of the year. The purchase price and other details about the acquisition are not stated in the press release.
/ritzau/
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