Merger creates MAN Diesel & Turbo SE
March 23, 2010
Posted March 29, 2010
The merger between German power plant and marine diesel engine maker, MAN Diesel SE, and MAN Turbo AG is now complete. The new enterprise, based in Augsburg, is named MAN Diesel & Turbo SE. From an economic standpoint, the merger is retroactive back to Jan. 1.
By combining the complementary product portfolios of the two firms, the merged company will strive for growth and seek to strengthen its position in the relevant market segments.
"The MAN Group will be seeking to pool its expertise in large bore diesel engines and power plants with its strengths in compressor and turbine technologies," said Klaus Stahlmann, MAN Diesel & Turbo SE's CEO and member of MAN SE's executive board.
The company states it will now be in a position to offer its customers product packages, such as turnkey Diesel Combined Cycle (DCC) power plants, or waste heat recovery systems for maritime applications. In addition to expanding its product range, the merger will also create synergies and offer further benefits in terms of costs. The company stated that its new cost savings are exemplified by joint global purchasing or the joint use of existing production, sales and service sites.
The merger between German power plant and marine diesel engine maker, MAN Diesel SE, and MAN Turbo AG is now complete. The new enterprise, based in Augsburg, is named MAN Diesel & Turbo SE. From an economic standpoint, the merger is retroactive back to Jan. 1.
By combining the complementary product portfolios of the two firms, the merged company will strive for growth and seek to strengthen its position in the relevant market segments.
"The MAN Group will be seeking to pool its expertise in large bore diesel engines and power plants with its strengths in compressor and turbine technologies," said Klaus Stahlmann, MAN Diesel & Turbo SE's CEO and member of MAN SE's executive board.
The company states it will now be in a position to offer its customers product packages, such as turnkey Diesel Combined Cycle (DCC) power plants, or waste heat recovery systems for maritime applications. In addition to expanding its product range, the merger will also create synergies and offer further benefits in terms of costs. The company stated that its new cost savings are exemplified by joint global purchasing or the joint use of existing production, sales and service sites.
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