|

The signing ceremony for an agreement on Danfoss Group's second industrial park is held in Haiyan county, Jiaxing, East China's Zhejiang province, on May 8. [Photo/WeChat account: jxfabu]

The signing ceremony for an agreement on Danfoss Group's second industrial park was held in Haiyan county, Jiaxing, East China's Zhejiang province, on May 8.

Danfoss Group, established in 1933, is Denmark's largest industrial group and a world leader in the manufacturing of refrigeration systems, heating systems, water treatment systems and power systems.

The 200-mu (13.33-hectare) industrial park is expected to reach an output value of 3.5 billion yuan ($505 million) within three years after completion, with an investment of 2.5 billion yuan.

Danfoss Group started cooperating with Haiyan county in 2005, when the group acquired Zhejiang Haili Electronic Technology Co Ltd.

In the past 18 years, the group has carried out nine projects in the county.

Specifically, in 2019, Danfoss Group built its first application development center in China in the county.

The county has become an important production base for Danfoss Group in the Asia-Pacific region, with five factories and two application development centers employing more than 1,400 people. In 2022, the group's total output value reached 4.4 billion yuan.