VM Motori

From Wikicompany

VM Motori S.p.A. is an Italian diesel engine manufacturer.

The company is located in Cento (Italy), near Bologna, which is the heart of the Emilia Romagna region, and also the home to Ferrari, Lamborghini, Maserati and Ducati.

History

Founded by two entrepreneurs, Vancini and Martelli (hence the "VM") in 1947, the company produced the first Italian diesel engine, aircooled and with direct injection.

In 1964 the company introduced entire new families of air-cooled diesel engines for fishing boats and the industrial machine markets.

VM merges with "Stabilimenti Meccanici Triestini" in Trieste in 1971, Finmeccanicaakes majority stake in combined company.

1974 saw the introduction of a new series of high speed (4200 rpm) HR, pre-combustion chamber, water cooled, turbocharged engines.

The Alfa Romeo Alfetta produced in Arese, rolls off the line with a VM Motori engine under the hood in 1979, signaling VM's move to the OEM automotive market.

In 1989 Finmeccanica restructers, sells VM Motori stake to company managers and Midland Montague in an LBO, company back to single Cento plant.

The after-cooled, electronic-combustion, Turbotronic® engine was unveiled in 1990. This engine was supplied to Alfa Romeo, Chrysler (now DaimlerChrysler), Ford Motor Company, General Motors, and Rover.

Detroit Diesel Corporation (DDC) buys VM Motori in 1995, OEM automotive sales account for 75% of income.

Cherokee (#1 in SUV's) and Voyager (#1 in mini-vans) become big customer for VM in major deal with Chrysler.

2000 saw change again with the purchase of DDC by DaimlerChrysler AG.

In 2003 Penske Corporation purchased a 51% stake and today, the company is co-owned by Penske and DaimlerChrysler (49% stake), and produces Diesel engines for a variety of auto makers.

Recently, Jeep chose VM Motor's 2.8 L common rail turbo engine for the Jeep Liberty CRD.

GM Daewoo has also licensed 1.5 L and 2.0 L common rail engine desings and is building a dedicated engine plant, aiming to start the production in 2006.