Denmark: Danfoss to trim down growth forecast
Article Abstract:
Danfoss, the Danish industrial group, is to trim down its profit growth forecast to 4% in 2001 from the original 10%. Investments will be reduced from the present DKr1.2bn to DKr0.75bn. Danfoss CEO Ole Steen Andersen does not expect an economic upturn until in the second half of 2002 at the earliest. The group boosted its turnover by 5% to almost DKr11bn in the first nine months of 2001. This falls short of the budget by 5%.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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Denmark: Danfoss to relocate production to Mexico
Article Abstract:
Danfoss is to relocate the production of its filters to refrigerating systems from Nordborg, Als, in Denmark to the groupas plant in Monterey, Mexico. This is part of the group's plans to move operations from Nordborg to low-wage countries. The move will entail a loss of 60 jobs in Denmark.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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