Daimler Ag News

Plaintiffs seeking to recover from ship managers or the vessels they operate but lacking a direct claim against a particular vessel have developed a clever strategy under U.S. maritime law. They seize a managed vessel under Supplemental Admiralty Rule B and claim the vessel-owning company is an alter ego of the defendant with whom the dispute really exists. In this way, plaintiffs can take advantage of the relatively low evidentiary bar to delve into protracted discovery to develop…

Rolls-Royce today announced the completion of its acquisition of Rolls-Royce Power Systems (RRPS). The move follows an announcement made on March 7, 2014 that the Board of Management of Daimler AG had decided to exercise the put option relating to its 50% equity interest in RRPS and the announcement on April 16, 2014 that Rolls-Royce and Daimler had agreed on a fair market valuation for the shareholding of €2.43 billion. John Rishton, CEO of Rolls-Royce said, “We are pleased to welcome Rolls-Royce Power Systems fully into Rolls-Royce.

Effective immediately, the former Tognum AG will now operate under the name of Rolls-Royce Power Systems AG. Since March 2013, the specialist for large engines, propulsion systems and distributed energy systems has been a wholly-owned subsidiary of Rolls-Royce plc and Daimler AG, each of which has a 50% shareholding in the company via a joint venture. The group of companies with MTU Friedrichshafen GmbH as the core company has been consolidated in the Rolls-Royce Group’s results since the beginning of 2013.

Name change aligns corporate name with primary product brands MTU and MTU Onsite Energy; German holding company Tognum AG renamed Rolls-Royce Power Systems AG. Effective immediately, Tognum America Inc. has changed its name to MTU America Inc. Based in Novi, Mich., the company is responsible for the manufacture, development, sales and service of MTU engines, propulsion and drive systems and MTU Onsite Energy distributed energy systems in North and Latin America. The company also maintains manufacturing facilities in Aiken, S.C. and Mankato, Minn.

As of today, July 1, Norwegian engine manufacturer Bergen Engines AS becomes part of the Tognum Group. Following the acquisition of Tognum AG by the joint venture of Rolls-Royce plc. and Daimler AG, the former Rolls-Royce subsidiary Bergen Engines was merged into the Tognum Group. With that Tognum, the propulsion and power solution specialist, adds medium-speed diesel and gas engines with power outputs up to 10 MW to its engine portfolio. Tognum supplies high-speed diesel and gas engines carrying the MTU brand with power ranges of 75 to 10,000kW and 100-2,150kW respectively.

2012-2014: Investment of more than one billion euros in plant expansion and R&D; Publication of Annual Report 2012 announced. The specialist for propulsion and power solutions Tognum intends to invest more than one billion euros by the end of 2014. This amount exceeds the volume that Tognum specified in a cornerstone paper together with Daimler AG and Rolls-Royce plc two years ago. Approximately €600 million of the total investment will flow into each of research and development and long-term capital expenditure.

Carsten J. Reinhardt Becomes Member of the Corporate Board of Management of Voith GmbH and President and CEO of Voith Turbo GmbH & Co. KG. Heidenheim, Germany June 14, 2012 – This is to announce the appointment of Carsten J. Reinhardt as Member of the Corporate Board of Management of Voith GmbH and as President and CEO of Voith Turbo GmbH & Co. KG. As of July 1, 2012, Reinhardt will succeed Dr. Hubert Lienhard who had held this function since January 1, 2012 in addition to his office as President and CEO of the Corporate Board of Management of Voith GmbH.

Laden with a consignment of luxury vehicles for the South Africa market, the 231 metre ship mv Tijuca became the largest car carrier ever to sail into the Port of East London. The vessel is on its maiden voyage to the country with ports of call including Port Elizabeth and Durban. In East London the 13 deck ship took advantage of a recent expansion project which saw the berth at the car terminal deepened from 9.3 to 10.5 metres to accommodate larger vessels. East London Port Manager Jacqueline Brown said the vessel’s call highlighted the positive outlook in the new vehicles market.

*  Attractive offer price of €24 per share for Tognum shareholders. (Stuttgart/London)  –  Daimler  AG,  the  global  automotive  company  and  Rolls-Royce Group plc, the global power  systems  company, announced  today  that  they  intend  to launch a public  tender offer  for 100 per cent of  the share capital of Tognum AG. The public tender offer is intended to be carried out by a 50:50 joint venture company. Listed on the Frankfurt Stock Exchange, Tognum AG is a premium supplier of engines…

approximately 22% stake in Tognum AG – which it held through the company Seeker Rekees S.à r.l. – to Daimler AG. Daimler’s Supervisory Board approved the acquisition of this shareholding. Tognum AG. The entire transaction is subject to the approval of antitrust and other authorities. Tognum’s Board of Management welcomes this decision of Daimler and EQT. CEO Volker Heuer stated: “We are delighted that Daimler AG fully supports Tognum’s growth strategy – as a reliable business associate and now also as a strategic investor. corporate strategy focused on profitable growth and today’s independence. Less than one year after the initial public offering, the previously open question of what would happen to EQT’s remaining stake has been successfully resolved.