DENMARK: DANFOSS REPORTS GROWTH IN ASIA
Article Abstract:
The Danish industrial group Danfoss estimates up to a 15% growth on Asian markets in 1999, and nearly as much on the Russian market. CEO Ole Steen Andersen says the growth rate has been 40-50% in the Asean countries, and 30-40% in China in the latter part of 1999. Danfoss' turnover in the whole of Asia totals about DKr 600mn (USD 82mn).
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2000
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DENMARK: DANFOSS SUCCESSFUL IN THE RUSSIAN MARKET
Article Abstract:
Danfoss, the Danish industrial concern, is finally gaining a foothold on the Russian market. The company's CEO Jorgen Mads Clausen says the situation looks bright and anticipates a 50% growth this year. Support by local authorities is vital in the Russian market, and Danfoss can ascribe much of the its success in Russia to its contacts with the Russian authorities. The Moscow mayor, Jurij Luzhkov, who recently visited Danfoss Russian subsidiary, was so enthusiastic about Danfoss's thermostats that he has required Danfoss components to be installed in all public renovation projects and new housing projects in Moscow in order to save energy. Leif Simonsen, the managing director for Danish Russia, says there are plans to expand operations by starting production in St. Petersburg. Danfoss already has sales offices in five Russia towns. Eighty of Danfoss's 100-strong workforce in Russia are employed in the Moscow factory.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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Denmark: Danfoss to expand in China and in Russia
Article Abstract:
Danfoss, the Danish industrial giant, is to expand in China and Russia. It has decided to set up a plant in China for DKr50mn (US$6mn) and it is also on the lookout for new premises for a new production factory in St Petersburg in Russia. Danfoss ceo Jorgen Mads Clausen says the company is doing very well in both China and Russia, and is expected to reach a combined turnover of more than DKr0.5bn in the countries in 2001. He ascribed this success partly to the fact that both China and Russia are practically unaffected by the global economic crisis, the September 11 terror actions in the US and the war in Afghanistan.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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