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Danfoss completed the full acquisition of Artemis Intelligent Power, an Edinburgh-based hydraulic R&D company. The deal lets Danfoss commercialize its Digital Displacement pump technology globally, and about 60 employees joined Danfoss.
Danfoss announced it acquired a majority stake in Artemis Intelligent Power, an Edinburgh-based R&D firm specializing in hydraulic systems, gaining its Digital Displacement technology and establishing Edinburgh as a centre of excellence.
Danfoss began work on a new 1500 square metre plant beside Artemis Intelligent Power's base in Loanhead near Edinburgh, to make digital hydraulic pumps and motors for off-highway vehicles. The project will create more than 30 jobs initially, with up to 200 more later.
Danfoss acquired the majority of Artemis Intelligent Power, an Edinburgh hydraulic R&D firm, to gain its Digital Displacement technology. Artemis will become a joint venture with Mitsubishi Heavy Industries, with Danfoss as majority shareholder.
