Viessmann Acquires Commercial Refrigeration Firm Norpe
Oct 16, 2013
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German-based heating and cooling producer Viessmann Group acquired Finland's commercial refrigeration firm Norpe Group.
Norpe was founded 1953 in Porvoo, some 50 kilometers northeast of Helsinki. The firm has a staff of more than 450 and had turnover of more than EUR 130 million in 2012. Its factories and headquarters are located in Porvoo. The company has subsidiaries in Finland, Sweden, Norway, Germany, Poland, and Estonia, as well as a sales office in Latvia and a representative office in Russia.
Viessmann said Norpe is the market leader in the Nordic countries and Baltic states, and said the company has experienced rapid profitable growth from increased business activities in its core markets, including Russia and Germany. The company is also actively operating in Central Europe, the Middle East and Australia.
Dr. Martin Viessmann, owner of the Viessmann Group, explained the group's strategy in the Norpe acquisition: "We want to continue on our path to becoming a full-range supplier of cooling technology similar to our position in the heating sector. To achieve this, in the next step, we concentrate on expanding our range of products for the food retail industry. We are confident that Norpe's comprehensive and attractive product portfolio fits in well with our strategy."
Viessmann entered the cooling and refrigeration sector in 2012.
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