According to Reuters, Volkswagen has received bids from INNIO, Mitsubishi Heavy Industries and Cummins for its MAN energy solutions business. MAN Energy, formerly known as MAN Diesel & Turbo, mainly produces large two-stroke and four-stroke diesel and gasoline engines for marine, oil and gas and power generation applications, generator sets and complete marine propulsion systems, as well as turbocharging primarily for oil and gas Device. Natural gas industry. It had revenues of approximately 3.1 billion euros in 2018.
According to Reuters, MAN may bid between 150 and 2.2 billion euros. The final bid is expected to be submitted by the end of February, and Volkswagen has stated its willingness to maintain a minority stake in the business. Neither Volkswagen nor reported bidders will comment publicly on this report.
For every reported competitor, MAN’s acquisition will be an interesting addition. By owning and operating Jenbacher and Waukesha gas engine products, INNIO for large diesel will grow and expand the company beyond the power generation and gas compression industries.
Cummins manufactures large high-speed engines, and the deal will provide it with larger slow-speed engines and add new and larger ends to its turbocharger subsidiary of Cummins Turbo Technology. The acquisition of Mitsubishi Heavy Industries can expand Mitsubishi Heavy Industries’ existing business because it also manufactures high, medium and low speed engines and turbochargers.