MAN Diesel Officially a European Company

Thursday, August 31, 2006
The conversion of MAN B&W Diesel AG into a European Company (Societas Europaea, or SE for short) was concluded on August 31. At the same time the company will change its name into MAN Diesel SE, headquartered in Augsburg, Germany. By adopting SE status, the Executive Board intends to make the Diesel Engine Division of the MAN Group an even more international player showing a single face to the customer. In order to better organize the working of its committees, the Supervisory Board, which is made up of an international team headed by Håkan Samuelsson, has been reduced from 12 to 10 members, The Supervisory Board’s parity structure between the capital and the employee side will remain unchanged. Employee co-determination will be organised on a cross-border basis in future, too. At the end of April 2006, MAN Diesel was the first German company that, as part of the establishment of the SE, concluded an agreement with employee representatives from its European locations covering the formation of an SE works council. This committee is responsible for pan-European questions and its composition will also be international. The legal status of SE will also enable the MAN Diesel Group to integrate its European sites more strongly. This goal of stronger integration is also the reason behind the decision to rename the company. The focus in future will lie on “MAN,” and the name MAN Diesel will highlight the importance of Diesel Engines as one of MAN’s core areas of expertise. Products from the MAN Diesel Group will in future be offered under the following brand names: MAN Diesel- Four-stroke engines, turbochargers; MAN B&W- Two-stroke engines; and MAN Diesel PrimeServ- After-sales service.
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