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Danfoss Power Solutions designs, manufactures, and markets engineered hydraulic and electronic systems and components for use primarily in applications of mobile equipment. The product range serves markets such as agriculture, construction, road building, material handling, municipal, forestry, turf care, and many others. Danfoss Power Solutions has sales, manufacturing, and engineering capabilities in Europe, the Americas, and the Asia-Pacific region.
On May 3, 2000, Sauer-Sundstrand and Danfoss Fluid Power A/S became one company under the name of Sauer-Danfoss. On September 17, 2013 Sauer-Danfoss becoming Danfoss Power Solutions a member of The Danfoss Group
Established as Sundstrand Machine Tools in 1946, the name changed to Sundstrand Corporation in 1959. Gunnar A. Wahlmark was hired as draftsman in 1925. He formed the Sundstrand Hydraulic Division in 1934, the Sundstrand Hydraulic-Transmission Division in 1961, and the Sundstrand Aviation Division in 1945. A joint venture was established under the name Sundstrand-Sauer in 1987 and in 1989 Sundstrand sold its interest and the company name was changed to Sauer-Sundstrand. Sauer Inc., the holding company for all Sauer-Sundstrand activities, went public on the New York stock exchange on May 11, 1998.
Mads Clausen established Danish Refrigeration Controls and Apparatus Manufacturer in 1933, changing its name to Danfoss in 1946. In 1964 the first Danfoss hydraulic product was developed in Nordborg, Denmark. Between 1990 and 1996, multiple acquisitions in the USA and one in Poland brought together a global competency. In 1998, Danfoss Hydraulics became an independent company under the name of Danfoss Fluid Power A/S, setting it apart from the Danfoss core business.
On February 18, 2004, the Company restated its 2000, 2001, and 2002 annual financial statement results due to accounting errors identified during the closing of its West Branch, Iowa, operations. The errors were associated with the purchase accounting write-up of fixed assets, occurred in 2000 in connection with the closing of its Racine, Wisconsin, facility and relocation of its operations to the West Branch plant.[1]
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