Tognum expands market access in Vietnam

• V-TRAC is new mtu distributor in growing Vietnamese market
• Increase of sales network, training center and workshops across the country

Friedrichshafen/Hanoi, 17 June 2010. The specialist for propulsion and power solutions Tognum held a formal signing ceremony today in the Vietnamese city of Hanoi to announce the new mtu distributorship agreement with V-TRAC. V-TRAC is the leading Vietnamese company for sales, repair, and maintenance of power systems for ships, locomotives, power generation, and trucks. "Vietnam is a fast growing country with great potential for the Tognum Group with its strategy of worldwide regional expansion,” said Rainer Breidenbach, member of the executive board of Tognum AG and responsible for the Engines business unit, at the signing ceremony. “Our new partner V-TRAC enhances our strategic sales and service access in the Southeast Asian market significantly,” he added. Relevant market segments for mtu in Vietnam are engines and propulsion systems for applications as locomotives, construction and industrial machinery, ships, offshore oil and gas exploration and mining vehicles as well as diesel and gas based power generation.
Over 100 illustrious guests from the world of business and government agencies were welcomed to the signing ceremony by Peter Kneipp, CEO of the Tognum subsidiary MTU Asia. “The appointment of V-TRAC is a great leap forward for us. To enhance our own network would need considerable amount of time,” Peter Kneipp said. “V-TRAC has the relevant experience, contacts, facilities and over 200 qualified employees to grow our business immediately.” Established in 1994,
V-TRAC is a fully-owned subsidiary of the Singaporean distribution and investment company New Markets Group.
In addition to the distributorship agreement with V-TRAC for mtu engines and propulsion systems the Tognum Group continues its cooperation with the Vietnamese company DP Consulting as dealer of mtu Onsite Energy powered generator sets. “The combination of   V-TRAC and DP Consulting, who will continue to be our partner for mtu Onsite Energy, will offer our Vietnamese customers unparalleled service and training,” Peter Kneipp highlighted the future market approach.