Reports: Cummins Offers To Buy MAN Energy Solutions
By Jack Burke22 July 2019
Reuters is reporting that Cummins has made an offer for Volkswagen’s MAN Energy Solutions unit as the carmaker seeks to slim down its portfolio of disparate assets.
Volkswagen announced in May that it is exploring a sale or partnership for its MAN Energy Solutions as part of a restructuring of the German cars, trucks and bus empire.
VW has held talks with Cummins, and received an offer from the U.S. company for MAN Energy Solutions, according to sources close to the matter, Reuters said.
A Cummins spokesman told Reuters, “We do not comment on rumors or speculation in the marketplace.”
VW Chief Executive Herbert Diess has vowed to simplify the group which has 12 brands, trucks, buses, motorbikes, cars and electric bicycles as part of its business, Reuters reported.
MAN Energy Solutions designs two- and four-stroke engines that are manufactured by both itself and licensees as well as gas and steam turbines, compressors and chemical reactors.MAN Energy Solutions, formerly known as MAN Diesel & Turbo, also makes turbochargers used in the oil & gas industry.