Transaction and News
Volkswagen Subsidiary MAN Energy Solutions Sold Gas Turbine Business to China's CHGT
June 26, 2023 at 1:08:09 AM
Volkswagen (VOWG_p.DE) subsidiary MAN Energy Solutions has 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 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.
- REUTERS -
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