International. Danfoss announced that it has completed the official acquisition of BOCK GmbH, recognized globally for its CO₂ and low GWP compressors in demand for heating and refrigeration applications.
It is relevant to note that the agreement to acquire BOCK GmbH by Danfoss was first announced late last year, but is now a reality, reinforcing Danfoss' position as a provider of greener heating and cooling solutions.
This announcement is added to the release of the company's 2022 results, which were shared on March 1, which demonstrated growth potential in products and solutions, as sales recorded in that period exceeded expectations, 36% more to the €10.3 billion, with organic growth increasing by 15%. On the other hand, operating profits (EBITA) increased by 26% to 1,200 million euros, in addition, growth in North America stood out, which marked 71%.
Now, the unification of both brands adds 90 years of BOCK compressor innovation to Danfoss's decades as a leader in complete solutions. "BOCK's technology fits naturally into Danfoss' existing compressor portfolio and will accelerate decarbonisation with environmentally friendly and energy efficient heating and cooling solutions."
In that sense, the BOCK team of 400 dedicated experts and specialists officially became part of the Danfoss family.
Kristian Strand, President of Danfoss Commercial Compressors said: “When there is more than one path to decarbonisation, there are not too many solutions. By adding BOCK's world-leading technology to Danfoss' broad portfolio of compressors, valves, controls, heat exchangers and sensors, we are simply consolidating our position as the leading provider of greener heating and cooling solutions. This is an exciting day for both brands. By combining our respective expertise, we will help accelerate energy efficiency and the global transition to low-GWP and natural refrigerants.”
In addition, Dr. Marcus Albrecht, CEO, BOCK commented: “This is a proud moment in BOCK's history as we look to continue our journey of growth as part of the Danfoss family. Danfoss' global presence will open up new business opportunities for BOCK and together we have high hopes for the future. Innovation will continue to be central to our work as we seek to elevate more sustainable heating and cooling around the world.”
