Daimler AG buys stake in engine manufacturer – Tognum

Muamer Hodzic April 30, 2008

mercedes tognum logo
Daimler AG aims to acquire 22.3% equity interest in Tognum AG, a global leading producer of off-highway engines. Daimler will be shelling out €20 per share. On this basis, the purchase price would be approximately €585 million ($904.7 million), making Daimler the largest shareholder in Tognum.

Tognum is one of the leading suppliers of high-speed, powerful diesel engines and complete propulsion systems for ships, heavy agricultural and rail vehicles, industrial drive systems and on-site power generators. Tognum will allow Daimler to tap into alternative power propulsion systems. This is definitely going to be an interesting partnership, let’s see how it turns out.

Comments (1)

  1. Pingback: Daimler sells equity interest in Tata Motors —

Leave a Comment

Login to your account

Can't remember your Password ?

Register for this site!