| Danfoss targets four-fold sales jump |
| Tuesday,June 28,2005 Posted: 16:05 BJT(0805 GMT) China Daily |
BEIJING, June 28 -- Danfoss, the largest industrial group in Denmark, aims to quadruple its sales volume in China within four years, according to company officials. Danfoss China achieved its sales target of 1 billion yuan (US$120 million) last year, up 40 per cent from the previous year. "Now we are aiming at a target of 4 billion yuan in sales by 2008," said Carsten L. Sorensen, president of Danfoss China, over the weekend at the inauguration of the company's new factory in Tianjin. The rapid expansion of Danfoss in China is in line with the company's phenomenal growth and ambitious investment strategy. The company has invested more than US$100 million in China, making it the firm's second most important country after its home market in Europe. Commenting on Danfoss China's development strategy, Jorgen M. Clausen, president and chief executive officer, said: "Our new factory in Tianjin is not simply an expansion of our activities and manufacturing facilities in China, but represents the largest investment we have ever made in Asia. "More significantly, it is a big step toward achieving our long-term goal of building a second home market in China that would complement our European home market, where Danfoss originated and flourished." Clausen also announced Danfoss has established its latest research and development centre for motion controls in Beijing, and it will begin operations next month. This will be the third such hub, joining those in North America and Europe. Explaining why Beijing was chosen Clausen said: "Being in Beijing we are close to many relevant top Chinese universities and research institutes. It is a significant step we have taken to support our overall business strategy in China." Many more products are now being engineered and manufactured by Danfoss China for worldwide sales. "As China continues on its path of economic growth, we are proud to be working alongside the country to further spur its expansion," the president said. Clausen said Danfoss plans to purchase more domestic materials to feed its strong growth. The company purchases 10 million euros (US$12.1 million) worth of such products per year. It plans to increase the figure to 150 million euros in the next few years. (Source: China Daily) |
| (Source: English Site of Kuching) |
 | Cisco may move outsourced manufacturing to China 2005-06-24 09:33 |
| Baosteel, others ponder State share sales 2005-06-24 09:32 |
| BoCom surges 14% on HK IPO debut 2005-06-24 09:31 |
| Huge funds injected into black soil 2005-06-24 09:30 |
| UBS in talks with BOC for holding 2005-06-24 09:28 |
| CNOOC's high bid price does not assure merging with Unocal, experts 2005-06-24 09:27 |
| Small batteries tap huge African market 2005-06-24 09:25 |
| Acquisition of Unocal will not affect US oil, gas market: CNOOC 2005-06-24 09:24 |
| Gov't urges enterprises to export more goods with home brands 2005-06-24 09:23 |
| Int'l IT fair kicks off in NE China port city 2005-06-24 09:23 |
All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".
All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.
