Tognum
Encyclopedia
Tognum AG is the name of a German industrial concern, formed when private equity fund
EQT IV acquired several divisions of DaimlerChrysler
. All units are to assume the corporate brand, but will otherwise operate independently.
The company went public on July 2, 2007 and is now 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.
In March 2011 Rolls-Royce plc
and Daimler AG launched a takeover
for Tognum. 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. Once the acquisition is complete, Tognum will be run as a 50-50 joint venture
, with Rolls-Royce also merging its Bergen marine diesel engines
into the operation.
In July 2011, Tognum indicated that they would move their North American headquarters (formally MTU Detroit Diesel) and their current 200+ employees to a new facility in the United States in Novi, Michigan
.
Private equity fund
A private equity fund is a collective investment scheme used for making investments in various equity securities according to one of the investment strategies associated with private equity....
EQT IV acquired several divisions of DaimlerChrysler
DaimlerChrysler
Daimler AG is a German car corporation. By unit sales, it is the thirteenth-largest car manufacturer and second-largest truck manufacturer in the world. In addition to automobiles, Daimler manufactures buses and provides financial services through its Daimler Financial Services arm...
. All units are to assume the corporate brand, but will otherwise operate independently.
The company went public on July 2, 2007 and is now listed in the Prime Standard
Prime Standard
Prime Standard is a market segment of the Frankfurt Stock Exchange that lists German companies which comply with international transparency standards. The requirements are higher than in General Standard which is regulated by law...
segment of the Frankfurt Stock Exchange
Frankfurt Stock Exchange
The Frankfurt Stock Exchange is the world's 12th largest stock exchange by market capitalization. Located in Frankfurt am Main, Germany, the Frankfurt Stock Exchange is owned and operated by Deutsche Börse, which also owns the European futures exchange Eurex and the clearing company...
. EQT retained a minority share of 22.3% until April 2008, when it was sold to Daimler AG.
In March 2011 Rolls-Royce plc
Rolls-Royce plc
Rolls-Royce Group plc is a global power systems company headquartered in the City of Westminster, London, United Kingdom. It is the world’s second-largest maker of aircraft engines , and also has major businesses in the marine propulsion and energy sectors. Through its defence-related activities...
and Daimler AG launched a takeover
Takeover
In business, a takeover is the purchase of one company by another . In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.- Friendly takeovers :Before a bidder makes an offer for another...
for Tognum. The two companies announced on 24 June 2011 that their joint €3.4 billion tender offer
Tender offer
Tender offer is a corporate finance term denoting a type of takeover bid. The tender offer is a public, open offer or invitation by a prospective acquirer to all stockholders of a publicly traded corporation to tender their stock for sale at a specified price during a specified time, subject to...
had been successful, with 94% of Tognum shareholders accepting. Once the acquisition is complete, Tognum will be run as a 50-50 joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
, with Rolls-Royce also merging its Bergen marine diesel engines
Rolls-Royce Marine Diesel Engines
Rolls-Royce Marine Diesel Engines are manufactured by Rolls-Royce plc and cover five ranges of diesel engines for the marine sector.There are three "Bergen" and two Crossley Pielstick ranges with power outputs in the range 1.2MW to 15MW.-Bergen Range:...
into the operation.
In July 2011, Tognum indicated that they would move their North American headquarters (formally MTU Detroit Diesel) and their current 200+ employees to a new facility in the United States in Novi, Michigan
Novi, Michigan
Novi is a city in Oakland County in the U.S. state of Michigan. As of the 2010 census, the population was 55,224, an increase over the 2000 census count of 47,386. The city is located approximately northwest of the center of Detroit, and northeast of the center of Ann Arbor. The city is located...
.
Operating brands
- MTU FriedrichshafenMTU FriedrichshafenMTU Friedrichshafen GmbH is a manufacturer of commercial internal combustion engines founded by Wilhelm Maybach and his son Karl Maybach in 1909...
- MTU Onsite Energy
- MTU Detroit DieselDetroit DieselAs a corporation, Daimler Trucks North America has decided to rename the company "DETROIT".Detroit Diesel Corporation is an American-based diesel engine producer headquartered in Detroit, Michigan, USA...
- Mercedes-BenzMercedes-BenzMercedes-Benz is a German manufacturer of automobiles, buses, coaches, and trucks. Mercedes-Benz is a division of its parent company, Daimler AG...
industrial engines - L'Orange GmbHL'Orange GmbHL'Orange GmbH is a German company specializing in the design and creation of injection solutions for medium and high speed off-highway diesel engines. It became a member of the Tognum group in 2006. Founded by Rudolf L'Orange in 1933 in the town of Feuerbach, L'Orange designs and manufactures...
See Also
- MaybachMaybachMaybach-Motorenbau GmbH is a German luxury car manufacturer. It was founded in 1909 by Wilhelm Maybach and his son. The company was originally a subsidiary of Luftschiffbau Zeppelin GmbH and was itself known as Luftfahrzeug-Motorenbau GmbH until 1912.Today, the ultra-luxury car brand is owned by...
- Maybach FoundationMaybach FoundationThe Wilhelm and Karl Maybach Foundation is a 501 non-profit organization that seeks to improve the world through mentoring, by fostering and overseeing mentorships. The organization links mentors with protégés worldwide, and fosters and oversees those relationships...
- Daimler AG
- Rolls Royce plc
- Maybach-Motorenbau GmbH
- Wilhelm MaybachWilhelm MaybachWilhelm Maybach was an early German engine designer and industrialist. During the 1890s he was hailed in France, then the world centre for car production, as the "King of constructors"....
- Mercedes-BenzMercedes-BenzMercedes-Benz is a German manufacturer of automobiles, buses, coaches, and trucks. Mercedes-Benz is a division of its parent company, Daimler AG...