DENMARK: SOPHUS BERENDSEN TO SELL OFF DIVISION

Article Abstract:

The Danish group Sophus Berendsen aims at selling off its Power and Motion Control (PMC) division, and is likely to start negotiating with a few potential buyers in the near future. The division has a DKr 4bn (USD 0.54bn) turnover, but is expected to present a DKr 50mn loss for 1999, compared with a DKr 37mn profit in 1998. Sophus Berendsen hopes the division will be sold off within the first three months of 2000.

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DENMARK: SAUER-DANFOSS TO CO-OPERATE WITH DAIKIN

Article Abstract:

Sauer-Danfoss, the listed hydraulics group, is to start two new joint venture companies with Daikin Industries Ltd. of Japan i.e. a sales company and a production unit. The headquarters for the units will be located in Osaka, Japan. Sauer-Danfoss is to own 65% of the sales company to be named Sauer-Danfoss-Daikin Ltd. whereas Daikin will own 55% of Daikin-Sauer-Danfoss Manufacturing Ltd.

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DENMARK: SERMAN & TIPSMARK ACQUIRED BY SANISTAL

Article Abstract:

Serman & Tipsmark, the Danish manufacturer of hydraulic systems and components for industrial agricultural machinery, has been acquired by Sanistal, the Danish wholesaler of heating and plumbing equipment. Serman & Tipsmark expects a DKr 38mn (USD 5.4mn) turnover in 1999. The company mainly operates on the Danish market.

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