Rolls-Royce fully acquires Power Systems business
By Chris Sleight27 August 2014
Daimler has exercised a put option to sell its 50% interest in Rolls-Royce Power Systems (RRPS) to Rolls-Royce for €2.43 billion. RRPS was previously known as Tognum and makes engines for construction equipment applications under the MTU brand.
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 added, “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.”
The company added that Daimler would remain a partner in the development and supply of medium and heavy-duty diesel engines below 500 kW. MTU markets the off-highway versions of these engines in the construction equipment sector, among other industries.