Danfoss in India emerges stronger with addition of EatonÃ¢â‚¬â„¢s hydraulics biz

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Danfoss in India emerges stronger with addition of EatonÃ¢â‚¬â„¢s hydraulics biz

Danfoss in India emerges stronger with addition of EatonÃ¢â‚¬â„¢s hydraulics biz

Industry News
Aug 11,21

With the completion of $3.3 billion acquisition of EatonÃ¢â‚¬â„¢s hydraulics business, Danfoss grows by a third and establishes itself as a global leader in mobile and industrial hydraulics.

Danfoss in India emerges stronger with addition of EatonÃ¢â‚¬â„¢s hydraulics biz

Pune

Danfoss Power Solutions in India will emerge stronger with the addition of EatonÃ¢â‚¬â„¢s hydraulics portfolio. Danfoss Power Solutions headcount in India will cross 1000 with this merger.

Danfoss has officially finalised its $ 3.3 billion (approximately Euro 3 billion) acquisition of EatonÃ¢â‚¬â„¢s hydraulics business following confirmation of all necessary regulatory approvals and closing conditions. The move will see the Danfoss Group grow in size by a third and establish itself as a global leader in mobile and industrial hydraulics.

Mobile hydraulics has been one of DanfossÃ¢â‚¬â„¢ core and most successful businesses for over 50 years. The acquisition of EatonÃ¢â‚¬â„¢s hydraulics business is a vital aspect of DanfossÃ¢â‚¬â„¢ growth strategy. EatonÃ¢â‚¬â„¢s hydraulics business will be combined with the Danfoss Power Solutions business segment, adding approximately 10,000 employees worldwide and $ 1.8 billion (around Euro 1.5 billion) in 2020 global sales. Combining the two organisations will double the size of Danfoss Power Solutions, increasing its innovation capacity twofold.

The strengthened Danfoss Power Solutions will have the broadest selection of mobile and industrial hydraulics products and solutions available on the market, with the full line offering including fluid conveyance systems. The companyÃ¢â‚¬â„¢s distribution channels have also been significantly boosted, while its local application support and geographical reach have increased considerably. All of these benefits will enable Danfoss Power Solutions to become an even stronger technology partner for existing and new customers, plus take the lead in digitalization and electrification.

Kim Fausing, President and CEO, Danfoss, commented, said, Ã¢â‚¬Å“This is a great day for Danfoss as we welcome 10,000 new colleagues into the organisation and create a global leader in mobile and industrial hydraulics. By combining the knowledge and experience of the two strong businesses and great teams, our customers will receive an unmatched level of service and expertise from a single partner. We will continue our significant investments to stay on the forefront of technology leadership and provide solutions that improve productivity and reduce emissions to meet the requirements of the future.Ã¢â‚¬Â

Eric AlstrÃƒÂ¶m, President of Danfoss Power Solutions, said, Ã¢â‚¬Å“The need for technologically innovative and industry-changing hydraulic solutions is as great as ever. WeÃ¢â‚¬â„¢re very pleased to complete this significant investment in our core hydraulics business so we can serve our customers and partners even better than before. Combining the two robust businesses represents a perfect match and provides countless opportunities, such as increasing our engineering expertise and capabilities, doubling our global application support and extending the value of our Application Development Centers and digital design tools. Adding fluid conveyance and industrial applications are other assets gained through this transaction.Ã¢â‚¬Â

Paulo Ruiz, the President of the former Eaton hydraulics business, added, "This is an exciting new chapter for both of our businesses and our people, which are stronger together. The new Danfoss Power Solutions team will create a global leader in mobile and industrial hydraulics, drawing on long legacies of innovation and industry-leading expertise. The combined product portfolio and broadened global reach will better serve customers and distributors all around the world.Ã¢â‚¬Â

Going forward, Danfoss will have an even stronger leadership position in the hydraulics market in India, with the addition of EatonÃ¢â‚¬â„¢s industrial hydraulics and fluid conveyance expertise as well to the existing mobile hydraulics capabilities of Danfoss Power Solutions in India. With this merger, the Danfoss Power Solutions on-roll employee headcount crosses 1000 in India. This larger portfolio of products and the strength of the new strong engineering center in Pune with more than 500 engineers will drive the Danfoss innovation growth story in India and help in the nationÃ¢â‚¬â„¢s quest to be a $ 5 trillion economy.