MAN Acquires Alstom Diesel Engine Ops

Tuesday, February 22, 2000
Engineering companies Alstom of France and MAN of Germany have agreed terms for the acquisition by MAN of ALSTOM's Diesel engines business. Through this acquisition, the MAN Group will strengthen its activities in the field of large Diesel engines. MAN B&W Diesel AG, Augsburg, will take over ALSTOM Engines Ltd. of the U.K. with its brands Ruston, Paxman and Mirrlees Blackstone. ALSTOM Engines Ltd. supplies on a worldwide scale medium and high speed Diesel and gas-fueled engines with outputs ranging from 500 kW to 15,000 kW, which are primarily incorporated into fast ferries, navy and coast guard ships, luxury yachts, locomotives, power stations and packaged generator sets. Alstom Engines Ltd. employs some 1,500 persons, has an annual business volume of some 200 million euros and its business is profitable. For MAN this move represents a diversification in profitable and growing markets for high speed engines as well as valuable extension of its presence in the market for medium speed engines. In terms of output the ALSTOM range is situated above the upper end of the engine lines supplied by MAN Nutzfahrzeuge AG. The takeover is expected to yield synergies in technological development, engine programs and worldwide distribution in all areas of application. The Ruston, Paxman and Mirrlees Blackstone brands have developed excellent reputations in their respective markets and are complementary to the MAN and MAN B&W brands. The plan is to maintain the acquired business within the MAN family and to strengthen their technical and brand identities, bringing a wider range of products to a wider range of markets and place more resources at the disposal of customers. For ALSTOM the proposed deal is in line with the decision announced a year ago to divest its non-core industrial businesses, representing about 850 million euros of sales by April 2000. The announcement of this sale is another step closer to the completion of this divestment process. The acquisition is subject to the approval of MAN's Supervisory Board and of the relevant regulatory authorities. It is anticipated that the transaction will be completed in May 2000. Consultation with employees of Alstom Engines Ltd. and with key customers will commence immediately.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Container Equipment Costs at Record Low

Low material costs and stable demand has driven the price of new container equipment down to record lows where it is forecast to stay, according to the latest edition

KPA: Striking Mombasa Port Workers Must Return by Friday

The Kenya Ports Authority said on Thursday striking workers at the Mombasa port should resume work by Friday morning or lose their jobs, and that normal activities

Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1660 sec (6 req/sec)