Today: July 23, 2018, 7:54 am
  
Business

Stiebel Eltron Acquires Danfoss Värmepumpar AB (Thermia)

PR-Inside.com: 2018-04-16 15:32:01

Stiebel Eltron Acquires Danfoss Värmepumpar AB (Thermia)

Stiebel Eltron
Henning Schulz
+49 (0) 55 31 702 - 95 685
press@stiebel-eltron.com
www.stiebel-eltron.com

The Stiebel Eltron Group has acquired Danfoss Värmepumpar AB, known under the brand name 'Thermia', from Danfoss A/S of Denmark. The parties have agreed not to disclose the transaction value.

Danfoss Värmepumpar AB (Thermia) is the third largest supplier in the Nordic heat pump market with annual sales of around 68 million euros. Thermia, based in Arvika, Sweden, employs 210 people in Sweden, Finland and Norway.

“Thermia´s strong position in the Nordic countries and its modern product portfolio are perfect additions to the Stiebel Eltron Group’s focus on heating and cooling with renewable energy. The strong product offering of Thermia will help the Stiebel Eltron Group develop its business in other markets dominated by ground/water heat pumps”, says Dr. Nicholas Matten, Managing Director Sales, Marketing and Finance Stiebel Eltron.

Dr. Kai Schiefelbein, Managing Director Technology, Purchasing and Human Resources Stiebel Eltron, adds: “As there is very little overlap in the product ranges and in the markets where the companies are strong, the combination of the Thermia and Stiebel Eltron brands will help secure the position of our combined business in an increasingly competitive European heating market. There is a big opportunity to create synergies by developing common technical platforms and purchasing activities.”

Thermia will remain an active brand of the Group in the Nordic region within the existing distribution structures. The company will continue to be managed by the current management team led by Magnus Galvmo. “We are excited to join the Stiebel Eltron Group, as we see Danfoss Värmepumpar AB contributing substantially to the Stiebel Eltron Group’s future”, says Magnus Glavmo.

Stiebel Eltron acquires Danfoss Värmepumpar AB

Press Information


Published by
Hossam Abdel-Kader
+43 1 9582319
e-mail
www.pr-inside.com/



# 365 Words
Related Articles
More From The Author
Vela’s CEO Jen Nayar Named in Institutional [..]
Vela, a leading provider of trading and market access technology, announced that CEO Jen Nayar has been named in Institutional [..]
Kallelse till årsstämma för C-RAD AB (publ)
Aktieägarna i C-RAD AB (publ), org. nr 556663-9174 (”Bolaget”), kallas härmed till årsstämma torsdagen den 17 maj 2018 [..]
Cisco Doubles Down on Security Innovation and [..]
Cisco Introduces New Email Security Services to More Effectively Prevent Phishing and Spoofing Attacks   SAN FRANCISCO, April [..]
XBiotech Announces Upcoming Phase 2 Clinical Studies [..]
XBiotech to Launch Two Phase 2 Clinical Studies to Study Subcutaneous Administration of MABp1 for Treatment of Hidradenitis Suppurativa [..]
Veeva Cloud Innovation Helps CPG and Chemical [..]
Veeva Systems : Since 2007, Veeva has delivered cloud innovation to the global life sciences industry, including 49 of the [..]
 
More From Business
Send Rakhi Gifts to India Online with [..]
New Delhi, India, July 2018 Attractive Rakhi gifts are an integral part of the ritual, Raksha Bandhan. While India celebrates [..]
TV Store Online Rolls out New Superhero [..]
19th July 2018 -- Michigan-based mega-retailer of all-things TV, movie and comic culture merch, TV Store Online.com, has just [..]
Tarps Now Expansion to New St. Joseph [..]
ST. JOSEPH, MICHIGAN, UNITED STATES -- Tarps Now® is pleased to announce completion of its move to its newest operations [..]
The Tidy Maids Announces Scholarship Winner
RALEIGH, NC – JUNE 14, 2018 – The Tidy Maids Raleigh house cleaning and maid services is pleased to announce [..]
Introducing Worldwide Rakhi Delivery with Free Shipping: [..]
New Delhi, India, July 2018 - Are you planning to send Rakhi to Dubai? Avail the latest free shipping offer [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.