02-08-2012
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MonsterMoose
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Join Date: Jun 2010
Location: Noosa QLD.
Age: 58
Posts: 7,940 What Jeep do I drive?: WK2
Likes: 1,432
Liked 809 Times in 466 Posts
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Quote:
Originally Posted by TassieJK
i thought that was a Fiat engine?
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Close - VM Motori is an engine manufacturer in Italy, 50/50 owned by Fiat and GM.
Quote:
Originally Posted by http://en.wikipedia.org/wiki/VM_Motori
History
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 the 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.[1] 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.[2] but ultimately cancelled them in February 2009.[3] January 11, 2011 Italian newspaper Corriere della Sera published news that Fiat S.p.A. is about to purchase 50% stake from Penske.[4] In February 11 Fiat Powertrain Technologies confirmed it has bought the 50 percent stake.[5]
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Cheers, Dave :)
2010 JK, then a 2015 KL Trailhawk, now a 2017 GC Trailhawk!
Over 5000 Club
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