Kohler Company's Global Power Group, a global leader in engines and power generator systems, has entered into an agreement to purchase Lombardini Srl from Mark IV Luxembourg S.A.R.L., a subsidiary of Mark IV Industries Inc. The acquisition agreement is subject to relevant regulatory approval.
Kohler's acquisition of Lombardini "will provide a strong complement to our existing Engine Business by adding a complete diesel engine line to serve the needs of our commercial and consumer customers worldwide," said Global Power Group president Dick Fotsch.
Kohler's engine division, in operation since the 1920s, manufactures air- and liquid-cooled, four-cycle gasoline engines in the 4- to 38-horsepower range. Kohler engines are supplied to equipment manufacturers worldwide in the lawn and garden, commercial and industrial, agricultural and construction markets. Kohler manufactures its engines from three North American facilities and one facility, as part of a joint venture agreement in
The 85-year old Lombardini Srl, headquartered in Reggio Emilia,
"By being acquired by Kohler Company, Lombardini will become part of a group committed to growing the Engine Business globally," said Dr. Gianni Borghi, chief executive officer, Lombardini Srl. "We're confident that the combined engineering expertise and worldwide market support will serve our original equipment customers and end customers very well."
The acquisition will also provide Kohler with an expanded geographical presence in the European and North African markets.
"Lombardini is a strong geographic complement to our Engine Business and we're pleased to add contemporary diesel technology to our product offering," said Fotsch, adding that Lombardini's advances in cleaner, quieter diesel engines were complementary to Kohler's ongoing commitment to environmentally sound products.
The acquisition is expected to be completed in early summer 2007.
