Tognum Takeover Cleared
The takeover of German engine and gen-set maker Tognum by Rolls-Royce and Daimler has been cleared by the European Commission.
The Commission, which has the power to assess mergers and takeovers involving companies with certain turnover thresholds, concluded that the “merged entity will continue to face several strong and effective competitors in the markets.”
The takeover is expected to boost the companies’ involvement in the higher margin diesel engine market. Announcing its decision, the Commission added: “The Commission found that the increment in market shares resulting from the merger will be moderate and that the combined entity will continue to face several strong, effective competitors, such as Caterpillar, GE and MAN."
Tognum’s products are used for off-highway applications including industrial, power generation and marine use.
For more information: www.tognum.com