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University of Vaasa - Vaasan yliopisto

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221<br />

The business areas <strong>of</strong> the Danfoss Group are managed by three main divisions:<br />

Refrigeration & Air Conditioning (Blue), Heating (Red), and Motion Controls<br />

(Green). The eight business areas are distinguished in accordance to the divisions,<br />

with the exception <strong>of</strong> High‐Pressure Systems which is considered a separate business<br />

area:‐<br />

Refrigeration & Air Conditioning<br />

� Refrigeration and Air Conditioning<br />

� Industrial Automation<br />

Heating<br />

� Heating<br />

� Water Controls<br />

Motion Controls<br />

� VLT® Drives<br />

� Solar Energy<br />

� Bauer Geared Motors<br />

For clarity, the researchers have decided to include the companies which are not fully<br />

owned by the Danfoss Group as well as those <strong>of</strong> which the Danfoss Group is not a

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