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Deutz 9-month Net Income Up 53.7% To EUR 54.7 Million
DEUTZ Buys Battery Specialist Futavis
DEUTZ And Sany Sign Agreement On Joint Venture In China
DEUTZ AG is a Germany-based manufacturer of diesel engines. The Company operates through two segments: Compact Engines and Customized Solutions. The Compact Engines segment provides liquid-cooled engines for on-road and off-road applications, as well as various modular solutions. The Customized Solutions segment offers air-cooled and liquid-cooled engines for on-road, off-road and marine applications, as well as reconditioned (Xchange) engines for DEUTZ engine series. The Company also provides related services, including maintenance, spare parts, accessories, engineering services and repair kits. The Company operates production sites in Germany, France, the United States, Argentina and China.
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Germany's Deutz <DEZG.DE> has bought Futavis GmbH, a maker of battery management systems, as part of a drive by the engine maker to expand its offering of electrified powertrain components, Chief Executive Frank Hiller told Reuters.
Specialty diesel engine maker Deutz aims to expand its business to include hybrid and battery-powered engines from 2020, banking on an expected boom in demand for electric vehicles.
Sweden's AB Volvo said on Friday it had sold its 25 percent stake in German diesel engine maker Deutz AG as the truck maker continued to trim assets outside its core business.
* Says divestment proceeds amount to SEK 1,897 m, corresponding to SEK 62.73 per share (EUR 6.50)
Swedish truck maker AB Volvo <VOLVb.ST> is selling its 25 percent stake in German specialty diesel engine maker Deutz AG <DEZG.DE>, the bookrunner for the deal said on Thursday.
* Launch of a sale of Deutz AG shares through an accelerated bookbuilding process on behalf of AB Volvo
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