Electrical acquisition for marine market growth
In a bid to grow its market share in the marine market global engineering solutions giant Danfoss has acquired Visedo to offer its customers electric solutions expertise.
By taking this step Danfoss said it is responding to the growing customer demand for electric solutions to reduce emissions and pollution and to increase productivity.
“Electrification is a fast-developing area and holds tremendous potential and Visedo is a great example of how we can focus on customer needs and at the same time strengthen our offering by providing a broader range of solutions,” said Kim Fausing, president and CEO.
For Tuomo Rönkkö, chairman of the board for Visedo, the acquisition acknowledges the knowhow and excellence built over the years between Visedo and the Lappeenranta University of Technology.
Visedo will be integrated into the Danfoss Power Solutions business segment. The acquisition includes all Visedo subsidiaries globally and a design and manufacturing site located at the company headquarters in Lappeenranta.
“Joining forces with Danfoss means a quantum leap for our mission to end pollution with our electric solutions. Together with Danfoss, we will have more capacity and investment for greater innovation and market opportunities,” said Kimmo Rauma, head of Visedo.
Danfoss said that it is seeing a growing demand for electric solutions within off-highway vehicles and the marine market in response to the more stringent emissions regulations being imposed in these markets, as well as efficiency and productivity gains that these solutions bring.