Type Aktiengesellschaft Revenue €2.564 billion (2010) Founded 1909 | Industry Mechanical engineering Headquarters Friedrichshafen, Germany Number of employees 10,700 | |
 | ||
Formerly called 1909 (as MTU Friedrichshafen GmbH)
2006-14 (as Tognum AG) Key people Andreas Schell (CEO and chairman of the management board), Lawrie Haynes (Chairman of the supervisory board) Products Engines for oil and gas installations, mining, marine propulsion, locomotives and military vehicles; injection systems; power generators Total assets 2.746 billion EUR (end 2010) Total equity 735.8 million EUR (end 2010) Subsidiaries MTU Friedrichshafen, L'Orange GmbH Parent organizations Rolls-Royce Motor Cars, Rolls-Royce Corp. Profiles | ||
Rolls-Royce Power Systems AG is the name of a German industrial concern, which holds interests in a number of engine manufacturing brands and facilities, owned by Rolls-Royce. The company previously traded, from 2006 to 2014, as Tognum AG. Prior to 2006, the core company - MTU Friedrichshafen GmbH was a constituent of DaimlerChrysler Powersystems Off-Highway.
Contents
History
Tognum AG was formed when private equity fund EQT IV acquired in late 2005 several Off-Highway divisions of DaimlerChrysler. All units are to assume the corporate brand, but will otherwise operate independently.
The company went public on 2 July 2007, listed in the Prime Standard segment of the Frankfurt Stock Exchange. EQT retained a minority share of 22.3% until April 2008, when it was sold to Daimler AG.
Rolls-Royce Holdings and Daimler AG launched a takeover for Tognum in March 2011. The two companies announced on 24 June 2011 that their joint €3.4 billion tender offer had been successful, with 94% of Tognum shareholders accepting. Once the acquisition was complete, Tognum is run as a 50-50 joint venture, with Rolls-Royce merging its Bergen Marine diesel engines unit into the operation.
The acquisition of Tognum by the two companies was completed in September 2011 and the business continued to trade as Tognum AG until January 2014, when it was renamed Rolls-Royce Power Systems AG. Rolls-Royce Holdings confirmed in March 2014 that they would purchase Daimler AG's 50% stake in the joint venture. Daimler AG will continue to supply engines to Rolls-Royce as part of existing long term supply agreements which run to 2025, this results from smaller MTU engines being derived from Daimler AG's range of diesel engines used in their on-highway commercial vehicles.
Rolls-Royce will fund the acquisition through a mixture of cash and some borrowing, paying Daimler AG around £1.9 billion (€2.3 billion) for their stake in the business. Analysts expect the deal to add between 5 and 6% to Rolls-Royce earnings. Daimler AG will use the proceeds to fund investments in their core automotive business.
Operating brands
There is also a joint venture with Transmashholding, called MTU Transmashholding Diesel Technologies; it will produce MTU 4000-series engines at a factory near Kolomna in Russia.
MTU Onsite Energy
MTU Onsite Energy, a Roll-Royce Power Systems brand, provides a range of generator systems in both gas and diesel for emergency and standby power needs.
MTU Onsite Energy Distributors
- Pacific Power Group - "Pacific Power Group is now the distributor for MTU Onsite Energy in Alaska, Hawaii, Idaho, Washington and Oregon. The company also offers extended service throughout the Western U.S". In January 2016, Pacific Power Group was awarded exclusive distributorship in Alaska, which had been previously shared with another distributor.
- Stewart & Stevenson Power Products
- Wajax Power Systems
- Collicutt Energy Services
- Antilles Power Depot
MTU Onsite Energy Projects