Tognum Buys Gen-Set Manufacturer
Tognum has announced the acquisition of 75.1% shares of Aggretech, a German manufacturer of electric power generation sets. The purchase agreement is subject to approval by the competition authority. The financial terms have not been disclosed.
The current CEO of Aggretech, Roland Grundl, who founded the company in 1995, will continue to hold around 25% of the shares. Aggretech produces diesel and gas-based power generator sets. Tognum and Aggretech have worked together for many years. Most recently, in July 2011, Tognum signed a contract with Aggretech for the delivery of fifty 20V, 4000 gas-based power gen-sets.
To date, Tognum’s onsite energy strategy has been based primarily on engine manufacturing at its locations in Friedrichshafen, Germany; Aiken, South Carolina, U.S.A.; and Souzhou, China, on diesel-based series systems and customer-specific power generation solutions from Mankato, Minnesota, U.S.A. and on gas-based power generator sets from Augsburg.
Aggretech employs around 250 people and generated revenues of €45 million in 2011. The company supplies 80% of its power gen-sets to international customers in more than 60 countries worldwide.
For more information: www.tognum.com