TMH Group to acquire Bergen Engines from Rolls-Royce for $180m.

TMH Group, a rolling stock manufacturer and rail service company, agreed to acquire Bergen Engines, a diesel engine manufacturer, from Rolls-Royce, a British luxury automobile maker, for $180m. The transaction has been approved by the boards of both Rolls-Royce and TMH and is expected to close in the second half of 2021. “TMH is developing a business, which includes the production of electrical engines, diesel engines or batteries, in order to propose new energy solutions for global customers in different industrial segments: transportation, energy generation, marine and earth moving machines. We see great potential in the low emission developments of Bergen Engines as part of the global TMH Group,” Kirill Lipa, TMH CEO. On March 23, 2021, Norway stated that it will block Rolls-Royce from selling Bergen Engines to TMH Group on national security grounds.