There’s more change at Traton AG with the former Volkswagen Truck and Bus confirming it would be shedding the MAN Energy Solutions division.
MAN Energy Solutions was previously known as MAN Diesel & Turbo SE and specialises in large-scale diesel engines, turbo compressors, industrial turbines and chemical reactor systems.
Formed in 2010, the operation has a large slice of the marine propulsion market, as well as a strong presence in the power generation and industrial compressor industries.
It has a strong presence in Australia too with a large local operation based in Sydney.
The division, and its 14,000 global employees, are set to remain under the larger Volkswagen AG umbrella with the transaction set to be completed by the end of the year.
The change will allow the recently formed Traton AG to focus wholly on trucks and buses and comes as Volkswagen looks to float the new vehicle manufacturing division on the stock exchange.
“In the light of our decision to prepare Traton for a possible initial public offering (IPO), separating the Power Engineering business is a consistent step.” – Frank Witter, member of the Management Board of Volkswagen AG responsible for Finance and IT.
“The final decision on the IPO will be taken at the respective point in time depending on the market environment and economic conditions.”
While Andreas Renschler, CEO of Traton AG welcomed the move that will see the division focus solely on its core products.
“With the planned sale of the business, we can focus on our core business in the future, thereby, we are refining our portfolio and taking another step towards capital market readiness.”
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