Nordic Business Report-June 28, 2006-Danfoss A/S acquires Romanian district heating stations manufacturer Schmidt-Bretten
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The Danish technology group Danfoss A/S announced on Wednesday (28 June) that it has agreed to acquire Romanian district heating stations manufacturer Schmidt-Bretten for an undisclosed sum.
Schmidt-Bretten, based in Bucharest, manufactures welded district heating stations for use in housing blocks and large buildings. The company has 50 employees and reported net sales of approximately EUR7.5m in 2005.
Danfoss said that it expects the Romanian district heating market to display considerable growth during the coming years.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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