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Rolls-Royce Power Systems

Rolls-Royce Power Systems AG
FormerlyTognum AG (2006–2014)
Company typePrivate
IndustryMechanical engineering
Founded1909; 116 years ago (1909) (as MTU Friedrichshafen)
2006; 19 years ago (2006) (as Tognum AG)
HeadquartersFriedrichshafen, Germany
Key people
ProductsEngines for oil and gas installations, mining, marine propulsion, locomotives and military vehicles; injection systems; power generators
Revenue€2.564 billion (2010)[1]
€112.3 million (2010)[1]
€62.8 million (2010)[1]
Total assets€2.746 billion (end 2010)[1]
Total equity€735.8 million (end 2010)[1]
Number of employees
10,700 (end 2013)[2]
ParentRolls-Royce Holdings
Websitewww.rrpowersystems.com

Rolls-Royce Power Systems AG (formerly Tognum AG) is a German company owned by Rolls-Royce Holdings with holdings in engine manufacturing brands and facilities. The company previously traded, from 2006 to 2014, as Tognum AG.[3][4] Prior to 2006, the core company – MTU Friedrichshafen GmbH – was a constituent of DaimlerChrysler Powersystems Off-Highway.[5]

History

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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.[6]

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.[7]

Rolls-Royce Holdings and Daimler AG launched a takeover for Tognum in March 2011.[8] 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.[9] Once the acquisition was complete, Tognum was run as a 50-50 joint venture, with Rolls-Royce merging its Bergen Marine diesel engines unit into the operation.[10]

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.[11] 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.[12][13]

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.[11][14][15]

Operating brands

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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.[16]

MTU Onsite Energy

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MTU Onsite Energy, a Rolls-Royce Power Systems brand, provides a range of generator systems in both gas and diesel for emergency and standby power needs.[17]

MTU Onsite Energy Distributors

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  1. United Engines
  2. 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".[18] In January 2016, Pacific Power Group was awarded exclusive distributorship in Alaska, which had been previously shared with another distributor.[18]
  3. Stewart & Stevenson Power Products
  4. Wajax Power Systems
  5. Collicutt Energy Services
  6. Antilles Power Depot
  7. Curtis Power Solutions

MTU Onsite Energy Projects

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Marine engines

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Diesel engines

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Reciprocating engines

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See also

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References

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  1. ^ a b c d e "Annual Report 2010" (PDF). Tognum. Archived from the original (PDF) on 18 August 2011. Retrieved 2 April 2011.
  2. ^ "Annual Report 2013" (PDF). Rolls-Royce Holdings plc. Archived from the original (PDF) on 10 August 2014. Retrieved 22 August 2014.
  3. ^ "Rolls-Royce and Daimler's joint venture secures 95 per cent of Tognum's shares". www.rolls-royce.com. Retrieved 24 September 2019.
  4. ^ "Germany: Tognum AG Changes Name Into Rolls-Royce Power Systems | World Maritime News". worldmaritimenews.com. 9 January 2014. Archived from the original on 24 September 2019. Retrieved 24 September 2019.
  5. ^ "History: MTU Online". www.mtu-online.com. Archived from the original on 2 July 2019. Retrieved 24 September 2019.
  6. ^ ""MTU Group To Operate Under New Name Tognum GmbH." The Wall Street Journal. 12 July 2006.
  7. ^ "Shareholder structure". Tognum. Archived from the original on 17 July 2011. Retrieved 1 May 2008.
  8. ^ "Rolls-Royce, Daimler launch €3.2bn Tognum takeover". The Daily Telegraph. 9 March 2011. Retrieved 9 March 2011.
  9. ^ Reiter, Chris (24 June 2011). "Daimler, Rolls-Royce Secure 94% of Tognum in Takeover Offer". Bloomberg. Retrieved 2 July 2011.
  10. ^ "Daimler and Rolls-Royce team up to bid for Tognum". BBC News. 9 March 2011. Retrieved 2 July 2011.
  11. ^ a b Bryant, Chris (7 March 2014). "Daimler to sell stake in joint venture to its Rolls-Royce partner". Financial Times. Retrieved 11 March 2014.
  12. ^ Tschampa, Dorothee (7 March 2014). "Daimler to Sell 50% Stake in Engines Venture to Rolls". Bloomberg.com. Bloomberg L.P. Retrieved 11 March 2014.
  13. ^ Ford, Roger (January 2001). "New trains – unhappy new year". Modern Railways. Archived from the original on 11 March 2014. Retrieved 11 March 2014.
  14. ^ Hoang, Li-Mei (7 March 2014). "Rolls-Royce to buy Daimler stake of power systems unit with cash, borrowing". Reuters. Archived from the original on 27 March 2019. Retrieved 11 March 2014.
  15. ^ "Press releases". www.rolls-royce.com. Retrieved 3 July 2020.
  16. ^ "Russian diesel engine joint venture agreed". Railway Gazette International. Retrieved 2 July 2013.
  17. ^ "Rolls-Royce Power Systems | Portfolio". www.rrpowersystems.com. Retrieved 19 October 2016.
  18. ^ a b "Pacific Power Group power generation division expands MTU onsite energy territory in Alaska". www.pennenergy.com. Archived from the original on 21 October 2016. Retrieved 19 October 2016.
  19. ^ a b "Diesel Progress". August 2016.
  20. ^ "Daimler Trucks North America Opens New Corporate Headquarters - Press Room - Thomas Built Buses". www.thomasbus.com. Retrieved 2 December 2016.
  21. ^ "An Inside Look at the Backup Power Behind Daimler's New Building - Pacific Power Group". Pacific Power Group. 29 April 2016. Retrieved 2 December 2016.[permanent dead link‍]
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