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The company’s focus will shift to climate protection solutions.
MAN Energy Solutions has declared the divestiture of its gas turbine division to Chinese firm, CSIC Longjiang GH Gas Turbine Co Ltd (GHGT). The transaction, details of which remain undisclosed, is a key strategic move as MAN Energy Solutions sharpens its emphasis on solutions for decarbonization and paves the way for long-term growth opportunities in its chosen fields.
Until now, MAN Energy Solutions had been manufacturing and servicing MGT gas turbines, with capacities reaching 8 megawatts, at its sites in Oberhausen and Zurich, among others. These turbines have seen use in diverse applications, ranging from mechanical drives to power generation. Despite this, the product line is no longer deemed central to the company's future growth strategy.
The terms of the sale encompass a five-year site guarantee for Oberhausen and Zurich. This not only promises the ongoing development of the gas turbine series but also the retention of related jobs at both locations under the new ownership. Current customers of MAN Energy Solutions can expect continuity in service, with existing contacts remaining in place post-sale.
At present, the gas turbine division consists of approximately 80 employees based in Oberhausen and around 20 personnel involved in the maintenance of installed turbines at MAN PrimeServ in Zurich. The transaction does not impact the remainder of the staff at MAN Energy Solutions' sites in Oberhausen (around 1,600) and Zurich (approximately 800), or the other products and services created there.
The decision to disengage from the gas turbine product area came as part of MAN Energy Solutions' "Performance 2023" program, initiated in 2020. This transaction represents a logical progression in its transformation into a sustainable energy solution provider.
Completion of the deal is contingent upon obtaining the necessary regulatory approvals and meeting other closing conditions.
About MAN Energy Solutions: With over 250 years of experience in advanced engineering, MAN Energy Solutions supports its customers in creating sustainable value during the transition towards a carbon-neutral future. The Germany-based company employs approximately 14,000 people at over 120 sites worldwide.
About CSIC Longjiang GH Gas Turbine Co., LTD. (GHGT): A subsidiary of the China State Shipbuilding Corporation (CSSC), GHGT specializes in the development of small and medium-sized gas turbines ranging from 5 to 50 MW, as well as high-performance and combustion technologies. With more than 700 employees working globally in R&D, production, and service across the gas turbines' product life cycle, GHGT's offerings are utilized in power generation, mechanical drive, and offshore engineering.