Reuters is reporting that Volkswagen has put ship engine manufacturing giant MAN Energy Solutions up for sale. Cummins, Wartsila and private-equity owned Jenbacher have all been informally approached about taking over the engine manufacturer as part of Volkswagen’s plans to slim down the group.
Volkswagen has declined to comment on the report.
Last year, MAN made a EUR133m profit on revenues of EUR3.1bn. Reuters has put a price tag of EUR3bn ($3.36m) on the engine manufacturer.
MAN traces its origins back to 1758. Today it has more than 50,000 employees. Volkswagen took over the company in 2011. According to the MAN Energy Solutions website, the company covers an estimated 50% of the power needed for all world trade today.