Tognum given go-ahead for Aggretech takeover

• Competition authorities approve takeover
• Closing to be completed in the next few days
• Renaming of Aggretech to mtu Onsite Energy Systems GmbH planned

Friedrichshafen, 3 April 2012.  In the last few days, the specialist for propulsion and power solutions Tognum has received the approval of the competition authorities for the takeover of the Bavarian manufacturer of power generator sets Aggretech. This means that 75.1 per cent of the shares in Aggretech will be transferred to Tognum this week. It is planned that the new Tognum subsidiary will be renamed to mtu Onsite Energy Systems GmbH. The Board of Management of Aggretech and later Managing Directors of the new company will be Hubert Diener as Chairman and Stephan Hoffmann. Hubert Diener was previously the Head of the Special Production Department at Tognum’s subsidiary MTU Friedrichshafen and Stefan Hoffmann was CFO of Aggretech.  

“Our entry into Aggretech is a major step forward in the expansion of our onsite energy business,“ said Joachim Coers, CEO of Tognum AG. “Aggretech’s system competence and our global sales network will be the basis that will enable us to further increase our market share in the region of Europe, Africa and Asia,“ added Ulrich Kemnitz, Executive Vice President with responsibility for Tognum’s onsite energy business.