Tognum is a supplier of engines, propulsion systems and components for marine, energy, defence, and other industrial applications.
The proposed fugure joint venture, comprising of Tognum and Bergen, the gas and diesel medium-speed engine business from Rolls-Royce, will reportedly help develop a world leading engine systems company. The partners intend to maintain the current manufacturing sites may invest in a new plant and facilities to enable growth and deliver productivity improvements.
“Tognum is an excellent company, and the combination with Daimler and Rolls-Royce creates a win situation for all parties,” said Dr. Dieter Zetsche, chairman of the board of management, Daimler. “It is an exciting proposition for Daimler to partner with Rolls-Royce to further invest in the Tognum business to create growth for the company and create additional value for our shareholders as well as for the customers and employees of Tognum.”
The complementary capabilities we are bringing together will provide us with a world leading proposition, and will enable us to expand the business by developing a broader portfolio of integrated power systems and services for existing and new customers,” said Sir John Rose, chief executive of the Rolls-Royce Group.
Daimler and Rolls-Royce will offer Tognum shareholders €24 per share in cash representing a total consideration of approximately €3.2 billion.