Heat Pumps - Danfoss takes over heat pump firm

11/04/2008

Danish industrial giant Danfoss has bought a Sheffield heat pump installer in a deal designed to boost the firm's growth.

ECO Heat Pumps has been bought by Danfoss, in the firm's sixth acquisition of a heat pump company in three years, according to the Sheffield Star.

Nis Storgaard, president of Danfoss's heating arm, told the paper: "The British heat pump market is still new and relatively small, but we expect that also here we will experience substantial growth in demands in the coming years."

He also stated that the acquisition of another heat pump installer would help the firm with its planned market growth.

The UK market for heat pumps is growing as homeowners find the more efficient systems can give up to 70 per cent saving on oil and gas alternatives, the paper reports.

Danfoss, which manufactures products such as the Danfoss Ras D-2 TRV and Lockshield radiator valve, is an industry leader in the development of heating products and controls.