Deutz Ag News

In its interim report for the first half of 2018, engine maker DEUTZ AG reports that in the first half new orders surged nearly 37 percent to €1.096 billion. Unit sales in the first half of 2018 came to 105,201, which included 6,345 electric motors sold under the Torqeedo brand. This was an increase of 32.2 per cent on the number of engines sold in the prior year period (H1 2017: unit sales of 75,599). Revenue amounted to €877.6 million, which was 19.5 percent higher than the €734.5 million generated in the first half of last year. DEUTZ also saw a further double-digit percentage increase in revenue in the second quarter of 2018, relative to both the first quarter of the current year and the second quarter of 2017.While the company saw orders and revenue surge…

Dr. Andreas Strecker, 56, was appointed as a member of the Board of Management of DEUTZ AG, effective 1 March 2018, and will assume responsibility for Finance, Purchasing, Human Resources and Information Services from 1 April 2018. He succeeds former CFO Dr. Margarete Haase, 64, whose contract ends on April 30 2018. Dr. Strecker previously worked in managerial positions in the Bus and Controlling units of the Daimler Group, most notably for many years as the President and CEO of Daimler Buses North America.

Independent engine manufacturer DEUTZ announced it has acquired Torqeedo, provider of electric drive systems for watercraft. As an independent subsidiary of DEUTZ AG, Torqeedo will continue product development under its established Torqeedo brand and with its current leadership. Founded 12 years ago in Starnberg, Germany, and supported by venture capital so far, DEUTZ said the acquisition marks a new phase in its development. “As part of DEUTZ, Torqeedo will realize substantial opportunities in the areas of industrialization, supply chain management, sales and service. We will use these to further accelerate the development of sustainable and modern mobility on the water,” said Christoph Ballin, CEO of Torqeedo.

AB Volvo finalizes acquisition of shares in Deutz AG to increase its shareholding in Deutz AG from 6.7% to just over 25%. In total, AB Volvo has acquired 22,117,693 shares from Same Deutz-Fahr Group for an amount of EUR 130 million. The transaction makes AB Volvo the largest shareholder in Deutz AG. Deutz AG has been a strategic supplier of medium duty engines to the Volvo Group for more than a decade. Earlier this year, AB Volvo and Deutz AG signed a non-binding memorandum of understanding with the intention to explore the potential to extend the companies’ long-term cooperation through joint development of the next generation of medium-duty engines for off-road applications.

Cologne-based engine manufacturer DEUTZ is exhibiting at CTT again this year, one of the leading trade fairs for the construction industry in Russia and eastern Europe. Taking place from 31 May to 4 June 2011, CTT features a diverse range of innovative, advanced construction equipment and technologies in an exhibition space of over 90,000 square metres. It is an ideal platform for the 650 exhibitors from 23 countries to access the Russian and eastern European markets. Representing the new generation of engines for the Tier 4 Interim emissions standard…

This year, the City of Cologne and DEUTZ AG are awarding the seventh Nicolaus August Otto Prize for Innovation of the City of Cologne. The prize was named after DEUTZ's founder in 2008 and comes with prize money of €30,000. The competition is open to inventive residents of Cologne who have innovative ideas to present. These ideas can come from a variety of fields: last year, they included outstanding concepts in medicine and technology, for example. A panel of judges, which includes DEUTZ's Chairman of the Board of Management Dr Helmut Leube, will select the winners on 9 November 2011.

The 2011 first-quarter results show that Cologne-based engine manufacturer DEUTZ has continued its positive business performance of the past twelve months. Operating profit of €18.2 million (EBIT before one-off items) sends a strong signal that the company is on an upwards trajectory this year. In the first quarter of 2010, DEUTZ had reported an operating profit of just €0.7 million. For the first time in three years, the company was also able to report positive net income for the first quarter -traditionally a subdued period.

A subsidiary of Deutz AG of Germany, Deutz Canada, Inc. sells and services both medium- and large-sized Deutz and MWM engines in North America. In addition, high speed Deutz engines are offered in Canada at Deutz's Montreal location situated near the St. Lawrence Seaway. With a complete power range from 10 kW to 7,060 kW, the engines can be provided in marine configuration with water-cooled exhaust manifolds or by air-cooled design.

Wärtsilä will acquire the assets of the German DEUTZ AG's medium and large marine engine service business. The acquisition price is EUR 115 million. The deal is earnings enhancing for Wärtsilä in 2005. The business consists of original spare parts sales, repair and maintenance for DEUTZ medium and large marine diesel engines. This deal will increase the installed engine base for Wärtsilä Service by 12,500 MW or by 9%. Today Wärtsilä's installed engine base is 130,000 MW. Wärtsilä's President & CEO Ole Johansson: "Wärtsilä has consistently and successfully expanded its Service business in recent years by increasing the scope of services and by acquisitions in the Ship Power market - in line with our strategy.