Torqueedo acquired by DEUTZ

DEUTZ AZ is initially investing around €100 million (includes Torqeedo acquisition) in its new strategy, and plans to market the first products within two years
Industry Database

Following its recent acquisition of Seawork exhibitor Torqueedo GmbH, German-headquartered DEUTZ AG has announced a highly successful third quarter, including an increase in revenue in the EMEA region by 18.9%.

The company has announced that it has received a marked increase in new orders and revenue, combined with a significant improvement in free cash flow. New orders in the first nine months of 2017 rose by 25.5% to reach €1,173.8 million (Q1–Q3 2016: €935.3 million). In the third quarter of 2017, new orders came to €370.8 million, being an increase of 43.7% compared with last year's figure of €258.1 million.

It’s acquisition of Munich-based Torqueedo, being the global market leader in integrated electric and hybrid drives for boats, has also seen the E-DEUTZ strategy accelerated.

Torqeedo was founded 12 years ago, now operates in more than 50 countries on five continents. It is the world leader in its field, with significant expertise in components, software and system integration for electric and hybrid drives.

Alternative drives will also play an important role in DEUTZ’s core segments in future. DEUTZ is seizing the opportunities arising from the changing conditions by introducing the E-DEUTZ strategy to complement its innovative drive systems, which focuses on the development and manufacture of hybrid and electrified drive systems for off-highway applications.

Torqeedo’s technological expertise will become the nucleus of the E-DEUTZ strategy, supplementing the Company’s system of modular technologies for reducing emissions and CO2.

DEUTZ plans to bring the first products to market under the E-DEUTZ strategy in around two years’ time – far earlier than if it had gone down this route alone. DEUTZ will initially invest around €100 million, which includes the acquisition of Torqeedo, in order to speed up implementation of the new strategy.

Dr Frank Hiller, Chairman of the Board of Management of DEUTZ AG stated, “We are on our way to positioning ourselves as the market leader for innovative drive systems and will offer our customers not only our established solutions but also hybrid and all-electric solutions”.

Latest Press Releases

BMT delivers mooring line monitoring system for Helang FPSO

BMT has delivered a Mooring Line Monitoring (MLM) system to London Marine Consultants (LMC) for the ... Read more

Damen Marine Components receives steering system contract for SunStone’s fifth Infinity-class 200 pax polar expedition cruise ship

Damen Marine Components (DMC) has received the contract to supply the rudders and steering gear for ... Read more

Innovative Damen-built vessel named in Scheveningen ceremony

On 1st November 2019, the latest Damen Shipyards Group fishing vessel, constructed at Damen Maaskant... Read more

Housewarming party at Damen Marine Components

Maritime components producer readies for an exciting future with new headquarters and new managing d... Read more

Handover celebration for thirteen Damen tugs

Cutting-edge Damen tugs will serve partnership between Jawar Al Khaleej Shipping and General Company... Read more

Changes to Volvo Penta Executive Group

After 26 years with Volvo and 7 as President of Volvo Penta Americas, Ron Huibers has decided to ret... Read more

View all