Latest news with #Danfoss
New York Times
a day ago
- Business
- New York Times
Caught Between Tariffs and China, Mexico Adapts to an Unpredictable U.S.
The factory in northern Mexico was built to supply Americans. Just a few hours from Texas, about 80 percent of its air-conditioners and refrigeration units are sent to the United States. President Trump's tariffs threatened to upend its whole business — at least until the company devised a plan. Before the tariffs took effect in March, only about 40 percent of its exports traded under the rules of a pact Mr. Trump signed in his first term. But when Mr. Trump agreed to suspend tariffs on any Mexican goods that fell under the agreement, the company's leaders saw ways to adapt. They sought out Mexican suppliers for products bound for the United States. They analyzed which products already complied with the pact's rules but had not yet been certified as such. And they reconsidered projects that involved bringing in imports from outside North America. 'When you're on a plane and there's turbulence, you get really scared and you hold onto your seat,' said Xavier Casas, who oversees the factory for the company Danfoss, in the Mexican city of Apodaca. 'But, you know, 99 percent of the time, the plane is going to land.' Want all of The Times? Subscribe.
Asharq Al-Awsat
10-05-2025
- Business
- Asharq Al-Awsat
Saudi Arabia Strengthens Relations with Danish Private Sector to Boost Bilateral Trade
Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, held a series of bilateral meetings on Friday with leaders of several leading Danish companies in the industry and mining sectors. Discussions covered joint investment opportunities, as well as the enablers and incentives offered by the Kingdom to investors, the Saudi Press Agency reported. The meetings focused on strengthening cooperation in the industrial and mining sectors between the two sides, with an emphasis on leveraging the strategic opportunities presented by the National Strategy for Industry across its 12 priority sectors that the Kingdom aims to localize and develop. This was discussed alongside the opportunities provided by the comprehensive mining strategy, in line with the objectives of Saudi Vision 2030. Alkhorayef also met with executives from the pharmaceutical, food, and mining sectors, including FLSmidth, Danfoss, Novo Holdings, Novonesis, and Arla Foods. The visit reflects Saudi Arabia's continued efforts to deepen economic partnerships with leading industrial nations and attract global expertise to accelerate the growth and competitiveness of the Kingdom's industrial and mining sectors.
Asharq Al-Awsat
10-05-2025
- Business
- Asharq Al-Awsat
Saudi Industry Minister Strengthens Relations with Danish Private Sector to Boost Bilateral Trade
Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, held a series of bilateral meetings on Friday with leaders of several leading Danish companies in the industry and mining sectors. Discussions covered joint investment opportunities, as well as the enablers and incentives offered by the Kingdom to investors, the Saudi Press Agency reported. The meetings focused on strengthening cooperation in the industrial and mining sectors between the two sides, with an emphasis on leveraging the strategic opportunities presented by the National Strategy for Industry across its 12 priority sectors that the Kingdom aims to localize and develop. This was discussed alongside the opportunities provided by the comprehensive mining strategy, in line with the objectives of Saudi Vision 2030. Alkhorayef also met with executives from the pharmaceutical, food, and mining sectors, including FLSmidth, Danfoss, Novo Holdings, Novonesis, and Arla Foods. The visit reflects Saudi Arabia's continued efforts to deepen economic partnerships with leading industrial nations and attract global expertise to accelerate the growth and competitiveness of the Kingdom's industrial and mining sectors.
Zawya
28-02-2025
- Business
- Zawya
Danfoss delivered solid performance in a volatile market, with significant growth in the MENA region
MENA sales recorded 20% year-on-year growth in 2024 Operational EBITA was EUR 1,097 million corresponding to a margin of 11.3%. Investments in innovative solutions (R&D) at EUR 488 million, corresponding to 5.0% of sales. Continued to decouple our own emissions from our sales growth, achieving a 19% reduction in scope 1 and 2 carbon emissions. Outlook 2025 sales in the range of EUR 9.5-11.0 billion and operational EBITA margin in the range of 10.8-12.3%. In 2024, we delivered solid operational results and most of our core businesses remained resilient. However, factors such as higher interest rates and lower farm income sent the build of new off-highway machines within agriculture and construction into a cyclical downturn. The electric vehicle market was also impacted by governments scaling back incentives. We have as always proactively managed our business performance through the cycle and maintained our long-term focus. To set Danfoss up for the future, we have taken decisive actions to evolve our operating model to better serve our customers, improve competitiveness, enable faster decision-making, and become a more responsive organization. We continued with significant investments in delivering competitive and innovative solutions as well as regionalizing our factory footprint, thereby continuing to execute on our green growth strategy. NORDBORG, DENMARK – In 2024, sales were EUR 9,674 million. Despite challenging market conditions, we delivered a solid operational EBITA of EUR 1,097 million, equal to a margin of 11.3%. 'I am especially excited to see the continuous strong performance in our Climate Solutions and our Drives businesses. We strengthened our position in selected high-growth markets like data centers, commercial heat pumps, and selected electrification applications such as marine. Moreover, we maintained a high level of investments in innovation to expand our offerings of competitive, innovative, and best-in-class technology and solutions,' says Kim Fausing, President & CEO of Danfoss. Over the past five years, we doubled the size of Danfoss, achieving balanced sales and a strong local presence across the Americas, Europe, and Asia. We firmly believe in the long-term growth opportunities for Danfoss and in offering great service to our customers all over the world. This is why we continue to invest in factory automation and in regionalizing our supply chain to become more resilient. Additionally, we successfully completed the integration of the Eaton Hydraulics acquisition into the Danfoss Power Solutions segment. With our new operating model, we have decentralized further to move closer to our customers and become easier to do business with. We focus on strengthening innovation and our entrepreneurial mindset as well as improving our cost competitiveness and responsiveness through increasing speed in decision-making. Today, we operate Danfoss through three segments and 16 divisions. Our businesses now operate within a significantly simplified structure, supported by leaner Shared and Corporate functions. 'We're especially proud of our performance in the MENA region, where we registered growth of 20% in comparison to 2023. Acquisition of BOCK®, compressors, was one of the contributors to this success, alongside our existing portfolio of energy-efficient solutions, and our Dubai-based heat exchangers assembly plant. We pride in becoming our customers preferred decarbonization partner in the region', added Ziad Al Bawaliz, General Manager, Danfoss MENA. For Danfoss, sustainability is a key driver of competitiveness and an integrated part of our strategy. We continued to decouple our organic growth from emissions, reducing our scope 1 and 2 emissions by 19% as we work toward our ambitious 90% reduction target by 2030. We also signed a power purchase agreement covering 100% green electricity for our two campuses in Haiyan, China reducing our carbon emissions by 40,000 tons every year as of 2025, which is equivalent to 33% of Danfoss' emissions in China and 9% globally. In 2024, we launched the 'Green Ask' initiative with strategic suppliers, which covers 40% of our EUR 3.5 billion spend to enhance data on sourced products and identify decarbonization opportunities. 'I am proud of what the Danfoss team has accomplished together this year. Our global team's engagement, resilience, and determination in overcoming challenges and driving impact exemplify the exceptional talent that is fueling our success. I sincerely thank our customers and partners for their trust and close collaboration, which is fundamental for our common success going forward. While global economic uncertainties and geopolitical instability may cause market fluctuations, we stay the course. We firmly believe in the long-term growth opportunities for Danfoss,' says Kim Fausing. Financial outlook 2025 Danfoss has a continued ambition to expand or maintain our market share. Sales are expected to be in the range of EUR 9.5-11.0bn for the full year. The operational EBITA margin is expected to be in the range of 10.8-12.3%, following our continued investments in new products and solutions. Key figures for 2024 Sales in 2024 down 9% to EUR 9,674m (2023: 10,654m). Operational EBITA (EBITA excl. integration costs and other operating income and expenses): EUR 1,097m equal to a margin of 11.3% (2023: EUR 1,455m or 13.7%) Investments in innovation (R&D) maintained at high level of EUR 488m (2023: 487m), corresponding to 5.0% of sales (2023: 4.6%). Investments (CapEx) excluding M&A were EUR 434 million (2023: 596m). Net profit EUR 370 million (2023: 819m). Free operating cash flow (after financial items and tax) amounted to EUR 467 million (2023: 692m). Lost Time Injury Frequency (LTIF) continues to be at the same low level as the previous year at 1.3 (2023: 1.2). The total number of employees decreased to 39,360 (2023: 42,054), reflecting efforts to balance the workforce in alignment with the current market conditions as well as the implementation of our adjusted operating model. About Danfoss A/S: Danfoss engineers solutions that increase machine productivity, lower energy consumption, enable electrification, and reduce emissions. Our solutions are used in areas such as refrigeration, air conditioning, heating, power conversion, motor control, industrial machinery, automotive, marine, and on- and off-highway equipment. We also provide solutions for renewable energy, such as solar and wind power, Power-to-X, heat recovery, as well as contribute to district-energy solutions for cities. Our innovative engineering dates back to 1933. Danfoss is family-owned and employs over 39,000 people. We create long-term value for our customers in more than 100 countries with a global footprint of around 100 factories.
Zawya
31-01-2025
- Business
- Zawya
Danfoss BOCK and JK Engineering Solutions gather local experts to highlight eco-friendly solutions
Dubai, UAE – The event, attended by over 100 industry experts, contractors, consultants, and end users, served as a platform to showcase Danfoss BOCK® eco-friendly compressors and condensing units and their role in advancing sustainable cooling and heating solutions. This marked the first event in the UAE following Danfoss' acquisition of BOCK GmbH, a world leader in CO₂ and low-GWP compressors, solidifying the company's commitment to providing cutting-edge, energy-efficient technologies. Danfoss is a world leader in the supply of compressors and controls, and has one of the most extensive and complete product ranges in the HVAC/R industry, covering numerous business areas and applications. Danfoss encourages the sustainable development and use of low-GWP refrigerants to minimize global warming while helping to ensure the continued green transition of energy systems and food chains from production to market along with the future viability of our industry. 'It was my pleasure to come to Dubai for this occasion and present Danfoss Bock reliable CO2 and low-GWP refrigerant compressors, ensuring functionality, cost-effectiveness, and environmental responsibility go hand in hand. The special focus of the event was on BOCK® condensing units which are designed for extreme conditions, such as scorching hot regions such as Middle East. They maintain efficiency without compromising on performance, thanks to adaptive heat exchangers and efficient AC fans', said Dalibor Sandor, Global Danfoss BOCK® Product Manager and trainer for Condensing Units who joined the local team as the keynote speaker. With a strong foundation in quality, people, and the climate, Danfoss drives the transition in energy, refrigerants, and food systems to achieve global climate and energy goals. We are at the forefront in developing products using refrigerants and in evaluating the viability of new refrigerants as they are introduced. New and evolving regulations on refrigerants can make it a challenge to stay up to date on current trends, with new regulations impacting everything from component selection to designing future systems. As refrigerant regulations evolve, we recognize the challenges and uncertainty this brings. Danfoss is here to provide clear guidance and trusted expertise, so you can make informed choices about refrigerants for your applications. With our products and solutions, institutional expertise, and digital tools, you'll find reliable support to stay compliant and equipped to meet the needs of today's changing refrigerant landscape. The acquisition of BOCK GmbH, completed in 2023, underscores Danfoss' dedication to decarbonization through its portfolio of climate-friendly and energy-efficient cooling and heating solutions. BOCK brings over 90 years of compressor innovation to Danfoss, complementing its existing capabilities and solidifying its position as a global leader in greener technologies. 'It has been an exciting era with BOCK®, now with Danfoss presence, it is a transformation to elevate to new heights', added Mahmoud Juma, Managing Director at JK Engineering Solutions, Danfoss authorized partner in the UAE. The event was an excellent platform for Danfoss BOCK to present BOCK portfolio to the local experts, highlighting its high energy efficiency, quality by global and giving the stage to end users to share their experience. " We compared all the compressors competing for the project, and it's true, BOCK has the lowest operating power" said Tareq Marwan, Project Manager at Azizi Developments, while sharing his hands-on experience on Danfoss BOCK compressors and their implementation in one recent project. For more information about Danfoss BOCK please visit For further information please contact: Martina Pozgaj +971529823929 About Danfoss A/S: Danfoss engineers solutions that increase machine productivity, reduce emissions, lower energy consumption, and enable electrification. Our solutions are used in such areas as refrigeration, air conditioning, heating, power conversion, motor control, industrial machinery, automotive, marine, and off- and on-highway equipment. We also provide solutions for renewable energy, such as solar and wind power, as well as district-energy infrastructure for cities. Our innovative engineering dates back to 1933. Danfoss is family- and foundation-owned, employing more than 41,000 people, serving customers in more than 100 countries through a global footprint of 95 factories. Danfoss BOCK specializes in lightweight, energy-efficient compressors designed for eco-friendly refrigerants like CO₂ and low-GWP options. This innovative product line reflects Danfoss' mission to lead the transition to greener solutions in cooling and heating applications. About JK Engineering Solutions JK Engineering is a refrigeration house, specialized in commercial and semi-industrial refrigeration systems, offering consultancy, design and comprehensive solutions, based in Dubai-UAE, and operates as authorized distribution partner for Danfoss-Bock. Catering as a stockiest not only for UAE, but the Middle East region and beyond as well, deeply serving cold storage industry, hypermarket refrigeration, hospitality commercial refrigeration, and process cooling. JK with decades of experience in system integration, integrates the world's top in class European refrigeration machineries, offering premium optimal, green value-added solutions
