Wärtsilä Reorganizes Its Marine Business
Wärtsilä announced it will reorganize its marine business into three independent entities, with the objective to accelerate strategy execution and simplify the business structure.The new businesses, consisting of Marine Power, Marine Systems and Marine Voyage, will be operational as of July 1, 2020.The organizational structure change is a continuation to the shifts made in 2019, whereby Wärtsilä's equipment and service businesses were integrated to strengthen the focus on complete lifecycle solutions…
ExxonMobil's Mobilgard 540 Cylinder Oil Available
ExxonMobil has announced its new 40BN cylinder oil, Mobilgard 540, will be available from September 2, 2019. The lubricant has been specifically formulated for use with 0.50% sulphur fuels that comply with the International Maritime Organization’s (IMO) 2020 emission regulations and meets the requirements of OEMs, MAN ES and WinGD.Mobilgard 540 will be available from launch in major ports around the world including Hong Kong, Singapore, Antwerp, Rotterdam and Amsterdam. It will also be offered at additional locations through ExxonMobil’s delivery network, in bulk and in packs.
Powered by China, Deutz Earnings Surge 37%
In its interim report for the first half of 2018, engine maker DEUTZ AG reports that in the first half new orders surged nearly 37 percent to €1.096 billion. Unit sales in the first half of 2018 came to 105,201, which included 6,345 electric motors sold under the Torqeedo brand. This was an increase of 32.2 per cent on the number of engines sold in the prior year period (H1 2017: unit sales of 75,599). Revenue amounted to €877.6 million, which was 19.5 percent higher than the €734.5 million generated in the first half of last year.
ZF Appoints New Board Members
ZF Friedrichshafen AG's Supervisory Board has appointed Sabine Jaskula and Dr. Holger Klein to the company's Board of Management.Jaskula, an experienced HR manager and lawyer, will be responsible for Corporate HR and Legal functions from latest January 1, 2019. In this function, she will also be in charge of compliance. Dr. Klein has been appointed to ZF's Board of Management with effect from October 1, 2018. His responsibilities will include Car Chassis Technology and Aftermarket (service and parts business).
Schaller Takes Over as Head of the Voith Group
As of April 1, 2018, Stephan Schaller has begun in his role as head of the Corporate Board of Management at Voith GmbH & Co. KGaA and will lead the international technology company. He succeeds the long-serving head of the Board, Dr. Hubert Lienhard, who, at the age of 67, is retiring as planned. Schaller has supported Voith since 2015 as a member of Voith’s Shareholders’ Committee. Schaller has many years of international experience in various sectors and industries outside Voith.
Paefgen Named Chairman of ZF's Supervisory Board
The Supervisory Board of ZF Friedrichshafen AG appointed Dr.-Ing. Franz-Josef Paefgen as its new chairman, at an extraordinary meeting on December 4, 2017. Paefgen, a member of the Supervisory Board since 2008, will succeed Prof. Dr. Giorgio Behr. Since 1976, Paefgen has held various managerial positions in the automotive industry. From 1995 until 2002, he was member of the Board of Audi AG, and from 1997, he was chairman of the Board of Management. From March 2002, he was responsible for the Bentley brand…
Rolls-Royce, ZF Strengthen Propulsion Ties
An agreement between ZF Friedrichshafen AG and Rolls-Royce Power Systems will see the two companies collaborate even more closely on the development, marketing, sales and service of marine propulsion systems. The combination of MTU engines from Rolls-Royce Power Systems and marine transmissions from ZF have long been a match for many commercial ships and yachts. Now, the two companies plan to work together even more intensively to develop new technologies and products to help ensure clients are provided with fully optimized propulsion solutions.
Voith Turbo CEO Reinhardt Resigns
Carsten J. Reinhardt, President and CEO of Voith Turbo and member of the Corporate Management Board of Voith GmbH, has resigned Tuesday in order to pursue other interests, the company announced. Dr. Uwe Knotzer will become the new Chairman of the Board of Management of Voith Turbo GmbH & Co. KG and member of the Corporate Board of Management of Voith GmbH with immediate effect Dr. Knotzer has been on the Board of Management of Voith Paper since 2012, where he is in charge of the Products & Services business line.
Wärtsilä Reshuffles Two Top Managers
Mr Rakesh Sarin (59), B.Sc. (Eng.), has been appointed President of Power Plants, Executive Vice President and member of the Board of Management of Wärtsilä Corporation, effective 1 September 2014. In this position, he is responsible for Wärtsilä's Power Plants business globally, and will report to President & CEO Mr Björn Rosengren. Mr Sarin joined Wärtsilä in 1998 with a background in downstream oil & gas sector. During the past 16 years he has held several managerial positions in Wärtsilä, including Vice President for sales & marketing of Power Plants globally based out of Helsinki.
Rolls-Royce Acquires Power Systems Unit
Rolls-Royce today announced the completion of its acquisition of Rolls-Royce Power Systems (RRPS). The move follows an announcement made on March 7, 2014 that the Board of Management of Daimler AG had decided to exercise the put option relating to its 50% equity interest in RRPS and the announcement on April 16, 2014 that Rolls-Royce and Daimler had agreed on a fair market valuation for the shareholding of €2.43 billion. John Rishton, CEO of Rolls-Royce said, “We are pleased to welcome Rolls-Royce Power Systems fully into Rolls-Royce.
ZF Marine Propulsion Systems
ZF is a $20 billion, foundation-held industrial colossus with a strong reputation of providing engineered solutions in the diversity of fields that it serves. While the company reaps the majority of its sales in the automotive sector, it is making a concerted push through its Marine Propulsion Systems unit to expand its offering and presences in the commercial maritime business. Wolfgang Schmid, Head of Marine Propulsion Systems Regional North America and Central America, last month hosted MR in the company’s gleaming North & Central American HQ to explain.
Tognum Honors Best Suppliers
Tognum, the propulsion and energy system specialist, has honored its best suppliers for the year 2012 with the Supplier Award in five categories. Jörg Schwitalla, member of the Board of Management responsible for personnel, integrity and operations, and Erik Manning, Head of Purchasing, handed over the awards. For the first time, Tognum presented the Supplier Award to two suppliers from the U.S. The prize in the category of "Most Improved for the Year" was awarded to the American supplier Honeywell International from Torrance in California. The Tognum Group buys turbochargers from them.
PowerTech President Lars Hellberg Leaving Wärtsilä
Mr Lars Hellberg, President of PowerTech, Executive Vice President and member of the Board of Management has announced he will leave Wärtsilä to become the President & CEO of Fortaco Group, a Finnish industrial manufacturer. Mr Hellberg will leave Wärtsilä at the latest in mid-December 2013 and the company has started to seek a replacement for the post. "I want to thank Lars for his commitment in enhancing Wärtsilä's position as a globally recognized technology leader during the past nine years. I wish him the best of success with his new challenges," President and CEO Björn Rosengren says.
Wärtsilä Appoint Marco Wirén CFO & Executive V-P
Marco Wirén appointed Chief Financial Officer, Executive Vice President & member of the Wärtsilä Corporation Board of Management. Mr Wirén (47), M.Sc. (Econ.) has broad-ranging experience of financial management and international business management. He currently works as Executive Vice President and CFO in the Swedish steel manufacturer SSAB, having held that position since 2008. Prior to joining SSAB as Vice President Business control in 2007, Wirén held several managerial positions…
Voith Taps Reinhardt as President & CEO
Carsten J. Reinhardt Becomes Member of the Corporate Board of Management of Voith GmbH and President and CEO of Voith Turbo GmbH & Co. KG. Heidenheim, Germany June 14, 2012 – This is to announce the appointment of Carsten J. Reinhardt as Member of the Corporate Board of Management of Voith GmbH and as President and CEO of Voith Turbo GmbH & Co. KG. As of July 1, 2012, Reinhardt will succeed Dr. Hubert Lienhard who had held this function since January 1, 2012 in addition to his office as President and CEO of the Corporate Board of Management of Voith GmbH.
Genset Manufacturer to be Taken Over by Tognum MTU
Specialist manufacturer of propulsion and power systems, 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.
DEUTZ Encourages Innovative Ideas
This year, the City of Cologne and DEUTZ AG are awarding the seventh Nicolaus August Otto Prize for Innovation of the City of Cologne. The prize was named after DEUTZ's founder in 2008 and comes with prize money of €30,000. The competition is open to inventive residents of Cologne who have innovative ideas to present. These ideas can come from a variety of fields: last year, they included outstanding concepts in medicine and technology, for example. A panel of judges, which includes DEUTZ's Chairman of the Board of Management Dr Helmut Leube, will select the winners on 9 November 2011.
DEUTZ Presents Q1 Results
The 2011 first-quarter results show that Cologne-based engine manufacturer DEUTZ has continued its positive business performance of the past twelve months. Operating profit of €18.2 million (EBIT before one-off items) sends a strong signal that the company is on an upwards trajectory this year. In the first quarter of 2010, DEUTZ had reported an operating profit of just €0.7 million. For the first time in three years, the company was also able to report positive net income for the first quarter -traditionally a subdued period.