Danfoss Marks 20th Year in Turkey

Danfoss, celebrating its 20th year of operations in Turkey, held a press conference on Thursday, 5 April at Çırağan Sarayı. The press conference, attended by Danfoss CEO Kim Fausing, focused on Danfoss's investments over the past 20 years in Turkey and the company's future targets. Danfoss Chairman and CEO Kim Fausing, emphasized Turkey's importance within the company and stressed confidence in Turkey's growth potential. Fausing said: "As Danfoss, founded 85 years ago in Denmark, we develop products that enable doing more with less resources in tomorrow's world. We create solutions to the rising demand for infrastructure, food supply, energy efficiency and environmentally friendly solutions. Our products and services are used in heating, cooling and air conditioning sectors, as well as motor control in every industrial field, and in mobile hydraulic systems in tractors and construction equipment. We also operate in renewable energy and district heating sectors.

Turkey Will Be Among the World's Top 10 Largest Economies

Danfoss Global Chairman Kim Fausing continued: "Turkey's growth momentum, alignment with global trends, and rapid adoption of new technologies and innovations give us great confidence. We believe Turkey will be among the world's top 10 largest economies in the coming years. Danfoss Turkey showed 16% organic growth in 2016 and 15% in 2017. In 2018, we are targeting double-digit growth and see strong development potential. We observe that Turkey is taking concrete steps in line with its energy and climate strategy, and we are ready to contribute with our solutions and expertise on energy efficiency. Specifically in the heating segment in Turkey, we acquired DAF Enerji, which has a market share of nearly 70% in the heating station market, in 2015. These products serve a market where application-specific design is very important. For this reason, we have a research and development and design facility in Turkey focused on this market. We continue to develop our production and design infrastructure to support Turkey's district heating transformation. With this acquisition, we also continued to increase our workforce and will expand capacity in the coming years. Danfoss Turkey today operates with 200 employees and 80 business partners across many provinces of Turkey. Our investments in Turkey will continue to increase in the coming period.

We Will Invest 140 Million Euro in Digitalization

Fausing shared that they will continue investments in digitalization, internet of things, innovation speed and capacity, and stated they will make a total investment of 140 million euro in 2018. Danfoss Turkey, Middle East and Africa Region Board Chairman Kjell Stroem, said Turkey is one of the most important countries within the company and emphasized that investments will continue. Danfoss Turkey General Manager Emre Gören said: "With our work on energy efficiency in Turkey, we are present in almost every sector. Danfoss, which has played an important role in Denmark's energy independence over the past 85 years, is now using all its accumulated expertise to help Turkey advance toward an energy-independent future. In Turkey, we also provide continuous training to students, our employees and business partners through our Danfoss Academy platform. Raising awareness among the new generation about energy is one of our continuous goals, and we are leading the way in this regard."