AURELIUS to take over Danfoss Household Compressors

12.07.2010

AURELIUS to take over Danfoss Household Compressors

  • Joint Press Release Danfoss A/S and AURELIUS AG

AURELIUS to take over Danfoss Household Compressors

Nordborg (Denmark), Munich (Germany), July 12, 2010 - Munich-based industrial holding AURELIUS AG (ISIN: DE000A0JK2A8) has signed an agreement to acquire Danfoss Household Compressors from the Danfoss Group, Denmark. The Danfoss Household Compressors business with its approx. 3,000 employees is a leading manufacturer for hermetic compressors for refrigerators and freezers, light commercial applications and 12-24-48 DC compressors for mobile applications and generates annual revenues of roughly 400 million Euros.

The acquisition, which is subject to approval by various competition authorities, comprises all Danfoss Household Compressors business activities in Germany, China, Slovenia and Slovakia. Closing is expected within the next two to four months.

“With more than 50 years’ experience in compressor technology and highly committed employees, Danfoss Household Compressors is a business with significant development potential. AURELIUS plans to further grow the business, by investing into extensive product development with high energy performance as one of the important key elements. New high energy efficient compressors will be introduced to the market soon. Together with next years' heavy investments in a new innovative compressor solution, it is clear that this business settles as a long term supplier of compressors.” said Dr. Dirk Markus, CEO of AURELIUS. “We are happy to see that after the purchase of Schabmüller GmbH from Sauer Danfoss back in 2007, the Danfoss Group has again decided to sell a subsidiary to AURELIUS.”

The Household Compressors business will remain an important supplier to the Danfoss Group, as Danfoss and its sales companies have been appointed as distributor and as such will continue their existing sales activities within light commercial compressors for the market segments and regions.

Mogens Søholm, Managing Director, Danfoss Household Compressors commented: “We are convinced that we have found a new owner who will support us in completing our reorganisation activities and further develop and grow the business.”

Nis Storgaard, Chief Development Officer of Danfoss says: “As Danfoss has chosen to prioritize other areas within climate and energy, we are happy that AURELIUS will provide good and responsible ownership and support Household Compressors towards a long term strategy as a leading player in their business area.”

About Danfoss Household CompressorsDanfoss Household Compressors is one of the leading compressor manufacturers known for technological conquest, energy saving and low noise level. Our application engineering department, traceable test facilities, laboratories, R&D department and all-round understanding of cooling are second-to-none. We place a high priority on service and technical support and, with production plants in Europe and China and sales and service companies worldwide, we are always on hand and ready to respond immediately. More than 50 years’ experience of compressor technology have taught us the requirements of our customers - and their customers. For more information, please visit: www.danfoss.com/BusinessAreas/RefrigerationAndAirConditioning/DanfossCompressors

For any press related questions find the following contact details belowMogens Søholm, Managing Director, Danfoss Household CompressorsPhone: +49 461 4941 500

About The Danfoss GroupDanfoss is Denmark’s largest industrial Group with an annual turnover exceeding 3.4 billion Euros and about 26,000 employees globally. Danfoss is a global Group and has more than 100 companies around the world. We are among world leaders within research, development and production of energy efficient technologies for many different sectors. Our position was created by pioneers and developed by visionary and committed employees. For more information, please visit: www.danfoss.com

For any press related questions find the following contact details belowNis Storgaard, Executive Vice President, Chief Development Officer Phone: +45 4017 7445Ole Daugbjerg, Chief Reputation OfficerPhone: +45 2424 8815