Danfoss Acquires Full Ownership of Danfoss Turbocor

BALTIMORE (Jan. 21, 2013) – Danfoss has acquired full ownership of the joint venture company Danfoss Turbocor, in which Danfoss has had a 50 percent owner’s share since 2004. The company develops, produces and markets high-efficiency variable speed compressors in the capacity range of 75-200 ton per unit which are primarily used in very large commercial air-conditioning applications.

Ricardo Schneider, CEO, Danfoss Turbocor, commented, “We believe that Danfoss is the ideal single owner of this business because Danfoss is a global compressor manufacturer, a well-respected leader in our industry and committed to the long-term success of our business and our customers’ businesses. Danfoss Turbocor is a strong link in the Danfoss strategy to differentiate by innovation with variable speed high-efficiency compressors. We are delighted to become 100 percent part of Danfoss, which will support Danfoss Turbocor in executing our ambitious plans.”

Danfoss has a strong position in the market for residential and commercial compressors, where the Danfoss variable speed scroll compressor range is used in applications including rooftops, data centers, chillers and VRF. The acquisition of Danfoss Turbocor is set to secure the company’s leading position in variable speed compressor technology and thereby gives Danfoss decisive strategic advantages in the global air-conditioning and refrigeration market.

According to Arup Majumdar, vice president marketing, strategy & inverter scrolls, the development of large-capacity variable speed compressors addresses a global demand for more energy-efficient solutions for cooling and heating. “Our customers are increasingly seeking energy responsible solutions for air-conditioning and refrigeration. Danfoss covers this need with variable speed technologies that consume less energy and uses more eco-friendly refrigerants.”

According to the International Institute of Refrigeration (IIR), 80 percent of the Green House Gasses (GHG) in the refrigeration and air-conditioning industry are released indirectly through the energy consumption of refrigeration and air-conditioning systems. The use of variable speed technology, however, significantly reduces energy consumption – and, therefore, harmful emissions – by consuming energy based on actual demand. Variable speed compressors also have a better seasonal efficiency than traditional fixed-speed compressors.

In countries where infrastructure investments are high in the areas of hospitals, large buildings and shopping malls, air-conditioning demands must be met with the least energy consuming solutions. Danfoss has the broadest portfolio of energy-efficient solutions for cooling with a variable speed compressor portfolio covering residential, commercial and now also very large commercial segments with Danfoss Turbocor compressors.

The application of the variable speed solutions from Danfoss can also contribute to the acquisition of green building status, thanks to the highly energy-efficient technology.

The installed base of over 32,000 Danfoss Turbocor compressors has already saved more than 1,500,000 tons of C02. The centrifugal compressor contributes to a smaller energy bill thanks to its high efficiency. It works without using oil as a lubricant. Instead, permanent magnetic bearings replace the oil. This reduces the frictional losses making the compressor more efficient. The oil-free operation also reduces complexity while at the same time cutting costs.

Danfoss Turbocor Inc. is headquartered in Tallahassee, Fla., and employs approximately 200 employees. The company has received prestigious awards for its technology including the AHR Exposition’s Innovation Award and the U.S. EPA Climate Protection Award. The company becomes part of the Danfoss Commercial Compressor division but will continue to operate as an independent business.

Danfoss is a manufacturer of high efficiency electronic and mechanical components and controls for air-conditioning, heating, refrigeration and motion systems. We operate in more than 100 countries, employ 25,740 people, and hold more than 1,800 patents on a wide range of products. Our innovative, reliable products are backed by local sales and support to help our customers solve their greatest challenges. With its visionary and committed employees, Danfoss meets the needs of its customers through its EnVisioneeringSM partnerships. EnVisioneering focuses on developing new technologies for sustainable business growth through engineering innovation, energy efficiency and environmental responsibility.

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