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Electronics Production | May 06, 2008

Danfoss postpones payments

There is an imbalance between the Denmark-based Danfoss’ customers and suppliers. Danfoss has therefore informed its suppliers, that the company will postpone its payments for 90 days.
Danfoss must pay its suppliers before customers have settled their invoices. This has led to an imbalance of about €53 million (DKK 400 million). Danfoss has now informed 1500 of its suppliers that they will not pay any outstanding invoices in May and that the company will further postpone payment for 90 days. Danfoss even urges its suppliers to adopt the same strategy with their suppliers to secure fiscal balance.

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