VM Motori
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| S.p.A. | |
| Industry | Automotive |
| Founded | 1947 |
| Headquarters | Cento, Italy |
| Products | Diesel engines |
| Owner | Fiat Group Automobiles (FCA Italy) |
| Website | www |
VM Motori S.p.A. is an Italian diesel engine manufacturing company which is wholly owned by Fiat Chrysler Automobiles through its subsidiary Fiat Group Automobiles. VM headquarters and main production facilities are located in Cento, in Emilia-Romagna, Italy.
VM Motori was founded by two entrepreneurs, Claudio Vancini and Ugo Martelli (hence the "VM") in 1947.
VM merged with Stabilimenti Meccanici Triestini in Trieste in 1971, then Finmeccanica took a majority stake in the combined company.
In 1989, Finmeccanica restructured, selling its stake in VM Motori to company managers and Midland Montague in a leveraged buyout, leaving the company with its single Cento plant.
Detroit Diesel Corporation (DDC) bought VM Motori in 1995. In 2000, DDC was purchased by DaimlerChrysler AG.
In 2003, Penske Corporation purchased a 51% stake in VM Motori; in 2007, Penske bought the remaining 49% from DaimlerChrysler and subsequently sold 50% of it to General Motors. As of 2007, both deals were awaiting European regulatory approval and the value of the deal was not known.
In September 2008, GAZ Group announced plans to purchase a 50% stake from Penske Corp, but ultimately cancelled them in February 2009.
On 11 February 2011, Fiat Powertrain Technologies and Penske Corporation had reached an agreement under which Fiat Powertrain would purchase Penske Corporation's fifty-percent stake in VM Motori S.p.A.
Fiat Group Automobiles acquired the remaining 50% stake of VM Motori S.p.A. owned by General Motors, on 28 October 2013.
In 1947, the company produced the first Italian air-cooled diesel engine with direct injection.
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Wikipedia