Over the next two years Danfoss will target the asian region for major growth opportunities including further acquisitions.
The $6 billion Danish engineering and manufacturing group Danfoss has announced a $750 million global investment plan leading up to 2015.
The plan includes a $100 million investment in India as well as acquisitions in core areas, especially Asia and the US.
Danfoss CEO and president Niels B. Christiansen said Danfoss was a global leader in making products that save energy and reduce emissions.
Its products are used in cooling food, air conditioning, heating buildings, controlling electric motors and power mobile machinery.
Christiansen said the group’s Indian plant will make some products currently made at other plants.
“Some of the products made in our Mexican plant can be made in India,” he said.
Danfoss has invested close to $1 billion in acquiring full control of Danfoss Turbocor compressors and Sauer-Danfoss.
The group is open for further acquisitions if there are suitable outfits, Kim Fausing, the group’s executive vice president and chief operating officer, said.
“We are looking for merger and acquisitions in Asia and the US,” Fausing said.
Although sales have been flat in 2013, Christiansen said 2014 will be a better year with good growth expected in Russia and China.