Tognum GmbH considers IPO
Posted on February 26, 2007
Friedrichshafen - Tognum GmbH, one of the worldwide leading suppliers of large diesel engines as well as complete drive and power systems, is evaluating an IPO and has now informed the company's Supervisory Board of this.
Preparation for capital market requirements to be started in order to open option for IPO
Tognum's CEO Volker Heuer says: "With the support of our owners EQT, we have consequently followed our dynamic growth course and in the past year raised the group's sales to around Euro 2.5 bn. We feel that we are fit for the capital market and will now make the necessary preparations so that we create the option for a public listing."
The employees' representatives on the Supervisory Board reacted positively to this news: "A stock market listing offers our company good perspectives to continue our growth that will in turn secure jobs. For this reason we support this move," says Karl-Heinz Wulle, Deputy Chairman of the Supervisory Board and Chairman of the firm's Workers Council.
The head of EQT Equity Germany, Marcus Brennecke, says: "From the very start of its independence, Tognum has used all opportunities to grow sales, earnings, employment and value. In view of this very encouraging development, we are considering a stock market listing and will reach a decision later this year." The Private Equity Fund EQT VI agreed to acquire Tognum from DaimlerChrysler AG in December 2005.