EnergyWatch

Danfoss sells out of heat pump business

Germany's Stiebel Eltron has acquired Danfoss' Nordic heat pump manufacturing business known as Danfoss Värmepumpar.

Photo: Danfoss/PR

Danfoss has sold heat pump manufacturer Danfoss Värmepumpar AB to Germany's Stiebel Entron Group, announces the German firm in a press release.

The two companies have agreed not to disclose the price for Danfoss Värmepumpar, which will go under the brand Thermia. According to the press release, Danfoss Värmepumpar is the third-largest supplier of heat pumps in the Nordic region and has annual sales worth around DKK 500 million (EUR 67 million).

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