VM Motori

VM Motori

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VM Motori

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Description:
VM Motori S.p.A. is a diesel engine manufacturing company in Cento, Italy, which is the heart of Emilia-Romagna, an Italian region which is also home to Ferrari, Lamborghini, Maserati and Ducati.

History

VM Motori was founded by two entrepreneurs, Vancini and Martelli (hence the "VM") in 1947.

VM merged with Stabilimenti Meccanici Triestini in Trieste in 1971, and Finmeccanica took a majority stake in the combined company.

In 1989 Finmeccanica restructured, selling its stake in VM Motori to company managers and Midland Montague in a leveraged buyout, leaving the company with its single Cento plant.

Detroit Diesel Corporation bought VM Motori in 1995.

In 2000 the DDC was purchased by DaimlerChrysler AG.

In 2003 Penske Corporation purchased a 51% stake in VM Motori; in 2007 Penske bought the remaining 49% from DaimlerChrysler and subsequently sold 50% of it to General Motors. As of 2007, both deals were awaiting European regulatory approval and the value of the deal was not known.

In September 2008, GAZ Group announced plans to purchase a 50% stake from Penske Corp. In February 11......
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