: ATTN DIESEL HEADS ...EMD / Electromotive ...gone .....



Stoneage_Caddy
04-06-05, 03:18 PM
Didnt see this one coming , GM is indeed in trouble ...seems every time they fall on hard times stuff gets spun off ....

The last tie between the old 2 Stroke Diesel and GM is gone now as Electromotive got sold ....Detroit was sold off to penske and then later to DCX if memeory serves ....


DETROIT - General Motors Corp. (NYSE: GM), Greenbriar Equity Group LLC and Berkshire Partners LLC today announced that they have concluded the sale of Electro-Motive Division (EMD) by GM to an investor group led by Greenbriar and Berkshire Partners. The transaction was previously announced in January when the parties signed a sale agreement. Terms of the transaction were not disclosed.

The new company, Electro-Motive Diesel (EMD), Inc., will continue to be based in LaGrange, Illinois.

The sale covers substantially all of the Electro-Motive businesses, including North American and international locomotives; power, marine and industrial products; the spare parts and parts rebuild business; and all of Electro-Motive's locomotive maintenance contracts worldwide. Both the LaGrange, Illinois and London, Ontario manufacturing facilities are included in the sale.

General Motors, the world's largest automaker, has been the global leader since 1931. Founded in 1908, GM today employs about 324,000 people around the world. It has manufacturing operations in 32 countries and its vehicles are sold in 200 countries. In 2004, GM sold nearly 9 million cars and trucks globally, up 4 percent and the second highest total in the company's history. GM's global headquarters are at the GM Renaissance Center in Detroit. More information on GM may be found at www.gm.com.

Electro-Motive employs approximately 2,600 hourly and salaried people. The company designs, manufactures, markets, sells, and services freight and passenger diesel-electric locomotives and diesel marine and power generation products for use worldwide. Since the early 1930s, Electro-Motive and its associates have produced more than 58,000 diesel-electric locomotives for customers in 73 countries. Electro-Motive diesel engines are used in over 100 countries worldwide. Additional information may be found at www.EMDiesels.com.

Greenbriar Equity Group LLC is focused exclusively on making private equity investments in the global transportation industry, including companies in freight and passenger transport, commercial aerospace, automotive, logistics, and related sectors. Greenbriar and Berkshire Partners LLC have entered into a strategic joint venture and co-investment agreement to address transportation and related investment opportunities. Greenbriar manages $700 million of committed limited partner capital and co-investment commitments and, together with Berkshire, has access to more than $1 billion for investment in privately negotiated equity investments within the transportation industry. Additional information may be found at www.greenbriarequity.com.

Berkshire Partners has invested in mid-sized private companies for the past twenty years through six investment funds with aggregate capital commitments of approximately $3.5 billion. The firm's investment strategy is to seek companies that have strong growth prospects and to partner with talented management teams who are interested in being owners of the companies they operate. Berkshire has developed specific industry experience in several areas including consumer products, industrial manufacturing, transportation, communications, business services, and retailing and related services. Berkshire has been an investor in over 80 operating companies with more than $12.0 billion of acquisition value and combined revenues in excess of $15.0 billion. Additional information may be found at www.berkshirepartners.com.



http://media.gm.com/servlet/GatewayServlet?target=http://image.emerald.gm.com/gmnews/viewmonthlyreleasedetail.do?domain=74&docid=13691

Stoneage_Caddy
04-06-05, 03:20 PM
BTW this deal started at the time the FIAT problem started to rear its head ....GM needed cash quick i guess

Sinister Angel
04-06-05, 05:19 PM
****

Hopefully this new company doesn't *** up the EMD.

Vesicant
04-06-05, 05:42 PM
Wow... that was some pop fly decision there... and a sucky one at it.Im also hoping the same.. that EMD will still be as good as it was.

Should have killed of a car brand. :shhh:

Katshot
04-06-05, 10:41 PM
The 2-stroke Detroit was always junk IMO. The Series 50/60 pretty much spelled the end of it. Detroit was trying to get out of the dirty diesel business and get into the "clean" diesel market. Cummins was kicking thier butt and they needed a big, powerful, inline engine that could bring them out of the dark-ages. I had a bunch of Detroits and none were worth a damn until our Series 60's showed up. Our V-engines ALL died over and over again, and leaked/burned oil worse than a Harley/Northstar combo would've.

Stoneage_Caddy
04-06-05, 11:02 PM
The 2-stroke Detroit was always junk IMO. The Series 50/60 pretty much spelled the end of it. Detroit was trying to get out of the dirty diesel business and get into the "clean" diesel market. Cummins was kicking thier butt and they needed a big, powerful, inline engine that could bring them out of the dark-ages. I had a bunch of Detroits and none were worth a damn until our Series 60's showed up. Our V-engines ALL died over and over again, and leaked/burned oil worse than a Harley/Northstar combo would've.
yah ...but i loved the 2 strokes , thaey were a ton fo fun to drive ....we didnt have any troubles with our 8v92ta engines but the other guys had them blowing up on them once a year ....


Cummins is pretty much the industry standard if you ask me ...if i neede a diesl to live forever itd be a cummins

Katshot
04-07-05, 08:20 AM
yah ...but i loved the 2 strokes , thaey were a ton fo fun to drive ....we didnt have any troubles with our 8v92ta engines but the other guys had them blowing up on them once a year ....


Cummins is pretty much the industry standard if you ask me ...if i neede a diesl to live forever itd be a cummins

Agreed! :thumbsup:
Put me in the group that had 92's blowing damn near yearly too. Our 71's did better even though they leaked oil so badly that we had to install catch cans.
As for Cummins, if it wasn't for them in our big buses, we would've been in trouble. All our buses with Detroit "V" engines were terrible. Once we got our newer ones with the series 60 engine, things started to turn around though.

Stoneage_Caddy
04-07-05, 01:05 PM
Yah i guess your right , those series 60s were damn good ....I just never worked on them ....even tho we had them in the fleet and all ...never thought about that ....LOL ....if your a mechanic and never see it it must be trouble free !



I never did get to work on any of the new cummins engines , so i never got to see the new 24 valvers or the new varible geometry turbos that recently came out on them ....tho i did get to see boath at a trade show earlier this year ...