logo
Share SHARE
FONT-SIZE Plus   Neg

DEUTZ AG Acquires Italian Partner IML Motori - Quick Facts

DEUTZ AG (DEZBF.PK,DEUZF.PK) announced the company has acquired its long-standing Italian dealer IML Motori. The subsidiary IML Service and the Romanian sales and service company IML Motoare also form part of the acquisition. The company is to trade in Italy under the name DEUTZ Italy.

IML Motori generated around 45 million euros in revenue in the most recent financial year. IML Motori has worked in partnership with DEUTZ since it was founded by the Keller family in 1904. The company operates a national service network in Italy and Romania and is DEUTZ's exclusive sales partner in both countries.

"This acquisition is in line with our strategy of investing in the company's service network in selected locations in order to drive further growth in this profitable segment. The increasing technical complexity of the engine business also requires close contact with our customers. The acquisition of IML Motori will mean that our Italian customers benefit from even more DEUTZ expertise locally and from a more intensive customer relationship," said Michael Wellenzohn, member of the Board of Management of DEUTZ AG for Sales/Service & Marketing.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French aircraft maker Dassault Aviation SA said Wednesday that following repeated delays, it has terminated a contract with French defense company Safran for its Silvercrest engine that was intended to power Dassault's Falcon 5X business jet. Walt Disney Co. has agreed to buy certain assets of Rupert Murdoch's Twenty-First Century Fox, Inc. for about $52.4 billion in stock, the two companies said Thursday. Immediately prior to the acquisition by Disney, 21st Century Fox will separate the Fox Broadcasting network, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off. Crypto Co., engaged in the digital currencies and blockchain sector, announced its plans to execute a 10-for-1 stock split, citing the significant growth in the value and demand for its shares amid the ongoing digital currency market boost. CEO Mike Poutre said, ""We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock."
comments powered by Disqus
RELATED NEWS
 
Follow RTT