Deutz Announces Engine Cooperation Agreement with Daimler Truck AG

Related To:

March 30, 2023

German engine-maker Deutz announced a comprehensive agreement with Daimler Truck AG, including both medium-duty engines (the Daimler Truck MDEG series) and heavy-duty engines (Daimler Truck HDEP series). The MDEG Series engines can be used in construction equipment, and the HDEP are applicable to power heavy agricultural machinery. For the acquisition of the on-highway IP for the medium-duty engines Daimler Truck received about 5.285 million new “no-par-value” bearer shares. As a result, Daimler Truck now holds 4.19 percent of the issued capital of Deutz AG. The new shares are expected to be included in trading in the short term.

“The cooperation with Daimler Truck significantly improves our starting position in a consolidating market as we will gain access to technologically advanced engines and will be able to attract new customer groups at the same time,” said Deutz CEO Dr. Sebastian Schulte. “Incidentally, we are delighted to welcome Daimler Truck as a new shareholder, which reflects our strong position in the impending consolidation of the engine market.”

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.