Rolls-Royce completes £2bn acquisition of former German JV
ENGINE manufacturer Rolls-Royce has announced the completion of its £2bn acquisition of Rolls-Royce Power Systems (RRPS).
The deal, first announced in March, has seen Rolls-Royce take full control of what was formerly its joint venture project with Daimler.
RRPS is a German-based diesel engine supplier – previously known as Tognum – which was originally acquired by the joint venture three years ago.
The business is considered to be a world leader in reciprocating engines. It is headquartered in Friedrichshafen in Southern Germany and employs around 11,000 people.
By taking full control of the business, Rolls-Royce will be able to improve its research and development capabilities.
John Rishton, CEO of Rolls-Royce said: “We are pleased to welcome Rolls-Royce Power Systems fully into Rolls-Royce. The business adds scale and capability to our reciprocating engines portfolio. It has outstanding technology, operates in long-term growth markets and has proved a valuable addition to our Marine & Industrial Power Systems division.”
Ulrich Dohle, CEO of Rolls-Royce Power Systems said: “With our well-known MTU high-speed engines, MTU Onsite Energy distributed energy systems, Bergen medium-speed engines and L’Orange fuel-injection systems, we are proud that we are now a full member of the Rolls-Royce family and look forward to contributing to its success.”
Daimler will remain an important partner in the development and supply of medium and heavy-duty diesel engines in the power range below 500kW. MTU markets the off-highway versions of these truck-derivate engines to customers in the construction, industrial and agricultural markets.
