Tognum Buys Gen-Set Manufacturer

Friedrichshafen, 17 February 2012. The specialist for propulsion and power solutions Tognum is to acquire 75.1 per cent of the shares in the Bavarian manufacturer of power generator sets Aggretech, subject to approval by the competition authority. The purchase agreement to this effect was signed yesterday evening.

Aggretech produces diesel and gas-based power generator sets for its series systems business, but also offers customer-specific solutions. This involves installing the engine, generator and system control unit mounted on specially manufactured base frames into individually designed central energy plants. The company markets its products worldwide. Tognum and Aggretech have worked together now for many years. Most recently, in July 2011, Tognum signed a contract with Aggretech for the delivery of 50 20V 4000 gas-based power generator sets.

“As a result of our entry into Aggretech, we are moving ahead systematically with the expansion of our business in distributed energy systems,” said Joachim Coers, CEO of Tognum AG. Tognum’s onsite energy strategy to date has been based primarily on engine manufacture at its locations in Friedrichshafen, Aiken (USA) and Souzhou (China), on diesel-based series systems and customer-specific power generation solutions from Mankato (USA) and on gas-based power generator sets from Augsburg. “Aggretech will now become the fourth pillar of our onsite energy strategy,” said Coers. “Tognum will also benefit from Aggretech’s system competence and high technical expertise.”

Aggretech’s workforce of around 250 employees generated revenues of approximately €45 million in 2011. The company supplies 80 per cent of its power generator sets to international customers in more than 60 countries worldwide. Aggretech operates four state-of-the-art test benches for generator sets with a frequency of 50 and 60 Hz in Ruhstorf in Bavaria. This makes it possible to perform tests on generator sets destined for Germany and for international markets. The current CEO of Aggretech, Roland Gründl, who founded the company in 1995, will continue to hold around 25 per cent of the shares.