Volkswagen subsidiary MAN Energy Solutions sells gas turbine business to China's CHGT

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

BERLIN: Volkswagen subsidiary MAN Energy Solutions on Tuesday said it signed an agreement to sell its gas turbine business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT), as the company phases out its fossil fuel business. The Augsburg-based large diesel engines and turbomachinery maker sai

BERLIN: Volkswagen subsidiary MAN Energy Solutions on Tuesday said it signed an agreement to sell its gas turbine business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co , as the company phases out its fossil fuel business.

The Augsburg-based large diesel engines and turbomachinery maker said the decision to divest from the gas turbine business was made three years ago. It said China's CHGT had given a five-years jobs guarantee for the unit's 100 workers in Oberhausen, Germany, and Zurich. "The newly decided sale of the gas turbine business is a logical next step on the way to transforming into a solution provider for sustainable energy supply," the company said in a statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines