Danfoss Inc. and Investment Group Sign Agreement of Sale for ZCP Business
Asset transfer leads to continuation of European based pre assembled floor heating control production facility in North America.
Calgary, Alberta (PRWEB) March 8, 2006
Danfoss Inc. represented by Senior Director, Steve Manson and a private investment group represented by Robert Bean R. E.T., are pleased to announce that they have reached an agreement whereas the investment group will acquire the assets and intellectual property rights to continue production of Zone Control Panels, known as ZCP’s manufactured in Calgary, Alberta, Canada.
Zone Control Panels are prefabricated boiler/furnace room piping and control packages used in residential and commercial hydronic radiant floor heating, snow ice melting and all other forms of hot or chilled water systems. These compact appliances reduce the assembly and installation times of pipe, valves and controls by 60%, control wiring by 40%, and start up by 20%. There are approximately 8000 ZCP’s installed in Canada and United States.
According to Steve Manson, “Danfoss is pleased to have this organization continue producing these panels. We have had a number of calls from customers saying that they simply cannot find either the Equivalent Product or Quality of Product as they have come to expect with the ZCP”.
Robert Bean on behalf of the Investment Group is quoted as saying “We are thrilled to take this torch into the future and greatly appreciate the positive collaboration with Danfoss in supporting this transition.”
The new company, known as ZCP Manufacturing Inc. will be led by Director of Operations, Mr. Dale Heath, and will take on service and support for existing ZCP products and continue to incorporate Danfoss components inside. The core of the former Danfoss team will be the key operations personnel of ZCP Mfg. Inc. ensuring that the same high standards of quality and technical assistance will be maintained.
The Danfoss Group has net sales of approx. 2 Billion US Dollars and employs more than 17,500 people worldwide.
Builders, contractors and distributors interested in learning more about incorporating this efficient and effective comfort appliance into their product offering are invited to call Mr. Dale Heath, Director of Operations at 403.236.9560
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