London-based private equity firm BC Partners Ltd. said it plans to acquire U.S.-based Mark IV Industries Inc. for about $1.02 billion, cash. Mark IV, among other industrial and automotive holdings, also owns Lombardini and Ruggerini, a pair of Italian diesel engine manufacturers. No announcement has been made on what the acquisition means for the diesel side of Mark IV. BC Partners said it hopes to have its purchase of Amherst, N.Y.-based Mark IV completed within four to five months, subject to shareholder and regulatory approval. BC Partners valued the acquisition at around $2 billion, including the assumption of $950 million in debt.
Detroit Diesel Corp. announced it has reached agreement with Ford Motor Co. to supply 2.5 L, 16-valve diesel engines for a Ford vehicle sold outside the United States. DDC will begin to supply 2.5 L direct-injected, common rail engines to Ford in calendar year 2001. Details will be available later this year after the agreement is finalized. The four-cylinder, direct-injected, 2.5 L diesel engine is equipped with electronically controlled common rail fuel injection and all models are turbocharged and intercooled with exhaust gas recirculation and balance shafts for reduced vibration. Detroit Diesel said many of the 2.5 L applications meet today's emissions regulations without aftertreatment. More information is available elsewhere in this issue.
DaimlerChrysler's MTU subsidiary (MTU North America, Inc.) and General Dynamics Land Systems have announced a new joint venture, the Performance Diesels Co., L.L.C. The venture has been formed to pursue engine supply contracts for military applications, including the U.S. Army's Abrams-Crusader Common Engine Program.
Denison International plc has completed the acquisition of 100 percent of the shares of Riva Calzoni Oleodinamica S.P.A. for an undisclosed sum. Calzoni, Bologna, Italy, designs, manufactures and distributes high torque low speed radial piston hydraulic motors for industrial applications worldwide. Sales for the latest fiscal year were approximately $11 million and the company employs 98 people at an 80,000 sq.ft. facility in Bologna.
Weasler Engineering, Inc., West Bend, Wis., has purchased Agritrans B.V., Wijchen, Netherlands. Agritrans is a manufacturer of universal joints, constant velocity joints, drivelines and torque limiting devices. The new Weasler AgDrive in Wijchen will operate as a wholly owned subsidiary of Weasler Engineering.
Detroit Diesel Corp. delivered its first Series 50 EGR engine to Pace, the suburban bus division of the Regional Transportation Authority in Arlington Heights, Ill. The Series 50 bus engine features both exhaust gas recirculation (EGR) and variable nozzle turbocharger technology (VNT). EGR and VNT are both controlled by Detroit Diesel Electronic Controls (DDEC). Detroit Diesel said it has had Series 50 field units in service since mid-1999 accumulating over 500,000 test miles and will deliver over 7500 Series 50 engines to the bus market in advance of October 2002.
Honeywell International Inc. said it has received its first significant order for its microturbine generators. The Distributed Generation business of Unicom Corp. (the Midwest distributor for the 75 kW power plants, has placed an order for as many as 55 Honeywell Parallon 75 turbo generators. Honeywell said the first units were expected to be installed in July, with the rest over the next several months. Installations include senior housing facilities operated by the Chicago Housing Authority. Initially the power plants will be used for standby or back-up power, with primary power use also possible.
Freightliner announced an $11.4 million, 58,000 sq.ft. expansion of its Gaffney, S.C., manufacturing plant to build a new light-duty, commercial van for use in parcel and general delivery, passenger transport and shuttle, and service. The expansion will be completed by the first quarter of 2001.
Mack Trucks, Inc. has established a wholly owned Mexican subsidiary, Mack Vehiculos Industriales de Mexico S.A. C.V. Europower Plc, Market Weighton, England has acquired Voss Inc., Valley View, Ohio, the U.S. distributor for Armaturenfabrik Hermann Voss hydraulic components. Trimble Navigation Ltd. has purchased Spectra Precision, a manufacturer of laser, sonic and GPS-based machine control systems.
Maquinaria Diesel (Madisa), the Caterpillar distributor in northern Mexico, said it has signed a letter of intent to buy Mextrac, which distributes Caterpillar products in central and southeast Mexico. Dana said its Plumley Hose Division will supply fuel hoses for the new DMAX Ltd., diesel, a joint venture between Isuzu Motors America and General Motors. Production is set to begin in June.
Ceryx Inc., Santa Paula, Calif., a designer, developer and manufacturer of proprietary diesel emission control systems, has expanded its research and development, manufacturing and administration facilities. Dr. Dorriah L. Page, Ceryx's president and chief executive officer, said the expansion was driven by the company's intent to begin commercialization of its the QuadCAT Catalytic Converter in October.
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