Danfoss companies worldwide celebrated the company’s 75th anniversary in 2008. Jørgen M. Clausen was appointed new Chairman of the Danfoss A/S Board and was replaced by Niels B. Christiansen as the CEO. However, 2008 and 2009 were, first and foremost, influenced by a global financial crisis which began in the USA and rapidly spread to Europe and Asia. Banks and other major finance houses collapsed, while stock prices dropped. This led to the businesses suffering a substantial decrease in net sales in almost all markets. Moreover, unemployment increased. Danfoss and Sauer-Danfoss were also hit hard in net sales, resulting in red figures on the bottom line. It was necessary to make substantial cuts, and almost 2,000 employees were made redundant. But, at the end of 2009, developments began to turn, and there were signs that Danfoss and Sauer-Danfoss would recover in a well-trimmed and strengthened condition from the crisis. The Danfoss name Where does the name Danfoss originate from? It is not related to any person, place or product. The name is designed. When Mads Clausen had produced his first product, he thought it should have a name, which he designed from two syllables: `Dan’ refers to the fact that Danish products are produced and this was, at the time, important to highlight both at a national level and in the local community. The other syllable, `foss’, reflects the function of the valve: it is the derivation of the Danish word indicating that a turbulent flow of fluid `gushes’ through the valve. The Danfoss name was embossed on all of the products, but the factory was called Dansk Køleautomatik- og Apparat-Fabrik. This was a long name to say on the telephone and, for somebody from outside Denmark, practically impossible to pronounce. Instead, the telegram address was shorter and more obvious: Ventilclaus (`valve Claus’). In January 1946, 13 years after the company’s foundation, the name Danfoss was registered as a company name and since then, it has been pronounced in almost the same way in every language, and the well-known logotype can be seen worldwide. A conflict arose for a period of time between Mads Clausen and Poul Due Jensen, who had named his company Grundfoss. Following Mads Clausen’s death, the issue was resolved by Andreas Jepsen and the Danfoss name remained unchanged, whereas Grundfos would be spelt with only one s.
Download PDF file