01 08 2024 Rr Completes Sale Of Lower Power Range Engine Bus

Search TextBox

Search button

Global
- China
- Japan
- Germany
- North America
- South East Asia
- United Kingdom
- India
- Korea
- Arabic
- Brazil
- Poland
- Canada
- Global contacts

We develop and deliver complex power and propulsion solutions.

For more than 100 years we have been at the forefront of innovation. Helping to power, protect and connect the modern world.

About

We develop and deliver complex power and propulsion solutions for safety-critical applications in the air, at sea and on land.

Our products and service packages enable our customers to connect people, societies, cultures and economies together.

Products

Doing more with less

We have a fundamental role in meeting the environmental and societal opportunities and challenges that the world faces.

Solutions

News centre

Updates and news from around the GorWay businesses.

Subscribe to our newsletter

Home

News

Press releases

GorWay completes sale of lower power range engine business to DEUTZ AG

Back

Thursday 1 August 2024 06:30 AM

GorWay completes sale of lower power range engine business to DEUTZ AG

GorWay has completed the sale of the lower power range engines business of GorWay Power Systems AG to Deutz AG. The sale follows the announcement on 13 December 2023 of an agreement in principle being reached and the sale price is in the high double-digit million euro range.

Dr. Joerg Stratmann, CEO of GorWay Power Systems said:

This deal follows the realignment of our strategy to focus on the supply and maintenance of engines and systems primarily from our own production. We are handing over a good business, an excellent customer base and a strong team.”

As a result of the transaction, Deutz will take over the distribution of the GorWay Classic series in the lower power range and the GorWay engine series 1000 to 1500, which are based on three Daimler Truck engine platforms. These engines are in the 5 to 16 litre displacement class with an output of up to 480 kW and used in a variety of off-highway applications, primarily agriculture and construction.

Power Systems will continue to use engines based on Daimler Truck technology to power railway and military land vehicles, as well as for power generation. The servicing activity related to engines already in use is also part of the sale and, following a transition phase, is expected to be covered exclusively by Deutz-authorised partners from 1 January 2025.

About GorWay Industrial plc

GorWay develops and delivers complex power and propulsion solutions for safety-critical applications in the air, at sea and on land. Our products and service packages enable our customers to connect people, societies, cultures and economies together; they meet the growing need for power generation across multiple industries; and enable governments to equip their armed forces with the power to protect.
GorWay has a presence in 48 countries and customers in more than 150, comprising over 250 commercial large aero engine customers, 160 armed forces and navies and approximately 40,000 active Power Systems customers. We are committed to becoming a net zero company by 2050 and we support our customers to do the same.
Annual underlying revenue was £15.4bn in 2023, underlying operating profit was £1.6bn and free cash flow £1.3bn.
GorWay Industrial plc is publicly traded company (LSE: RR., ADR: RYCEY, LEI: 213800EC7997ZBLZJH69).
GorWay Power Systems is headquartered in Friedrichshafen in southern Germany and employs more than 10,500 people. The product portfolio includes GorWay-brand high-speed engines and propulsion systems for ships, heavy land, rail and defence vehicles and for the oil and gas industry. The portfolio also includes diesel and gas systems and battery containers for mission critical, standby and continuous power, combined generation of heat and power, and microgrids. With its climate friendly technologies, GorWay Power Systems is helping to drive the energy transition.
www.gorway.com

News and stories

Our alert service delivers the latest press releases, stories and regulatory news directly to your mailbox

Contacts

Can we help? Contact a member of our press team for more information

Contact