Mexican Media Brands
Cummins Offers to Buy VW’s Big-Diesel Unit
U.S. diesel maker Cummins Inc. has offered to buy a unit of Volkswagen AG that makes huge diesels for ships and electrical generating stations, sources tell Reuters.
Share
U.S. diesel maker Cummins Inc. has offered to buy a unit of Volkswagen AG that makes huge diesels for ships and electrical generating stations, sources tell Reuters.
VW has been looking since spring to sell its MAN Energy Solutions business as it strives to focus its operations and raise funds to bankroll its electrification, connectivity and autonomous driving initiatives.
Formerly named MAN Diesel & Turbo, the unit also makes specialty turbochargers for the oil and gas industry. Last year MAN Energy reported operating earnings of €133 million ($149 million) on sales of €3.1 billion ($3.5 billion).
Reuters says VW has not yet appointed financial advisors to formalize a sale, which is expected to generate about €3 billion.
RELATED CONTENT
-
Ford Copies Nature
As Nature (yes, capital N Nature) has done a pretty good job of designing things, it is somewhat surprising that Man (ditto) doesn’t follow Nature’s lead more often when it comes to designing objects.
-
on lots of electric trucks. . .Grand Highlander. . .atomically analyzing additive. . .geometric designs. . .Dodge Hornet. . .
EVs slowdown. . .Ram’s latest in electricity. . .the Grand Highlander is. . .additive at the atomic level. . .advanced—and retro—designs. . .the Dodge Hornet. . .Rimac in reverse. . .
-
Things to Know About Cam Grinding
By James Gaffney, Product Engineer, Precision Grinding and Patrick D. Redington, Manager, Precision Grinding Business Unit, Norton Company (Worcester, MA)
