Danfoss continues to invest in Turkey to increase and develop its operations in heating market
Danfoss and DAF Energy together declared the acquisition of DAF Energy which is the leader of growing heat station market in Turkey. The merge of these two companies will help to create a new strength and momentum in Danfoss’s core business.
Danfoss Heating Segment President Lars Tveen said that: “DAF Energy acqusition is a very important step . This step will make us stronger in Turkish market and it will help us to strengthen our position thanks to its manufacturing facilities. Turkey is an important and strategic market for Danfoss Group in terms of its potential. Turkey has improved its deal in energy efficieny of buildings. With DAF Energy we foresee a great development potential in favor of our customers benefit. “
Additionally DAF Energy founder and General Manager Mehmet Tayfun Başaran explained: “It excites us to strengthen our position via Danfoss’s experience and capabilities in heating market. “ Joining Danfoss means combining DAF products and services with existing Danfoss solutions and projects. It is an indispensible instrument to introduce regional /central energy to Turkish market. ”
According to the terms of agreement, 60% of DAF Energy shares are to be acquired immediately by Danfoss, and the other remaining shares are to be acquired later on. The acqusition period is thought to be completed by the beginning of 2018. In order to benefit from the acqusition wholly , the management team of DAF Energy will continue its task in the company and likewise, DAF Energy employees will maintain their positions in the company too.