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Perkins plans a Detroit merger

7th April 1988, Page 7
7th April 1988
Page 7
Page 7, 7th April 1988 — Perkins plans a Detroit merger
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Which of the following most accurately describes the problem?

• Perkins Engines of Peterborough is involved in preliminary merger talks with the Detroit Diesel Corporation, and .1 e two companies are already lanning to rationalise their orth American distributors. Together, Perkins and De 0 it Diesel aim to be the orld's number one diesel engine manufacturer, able to produce 800,000 engines a year, with outputs ranging from 4kW to 1,500kW and a combined sales revenue approaching US 52,000 million.

According to Perkins: 'Potential exists on both sides f the Atlantic for crosslicensing product assembly and sting, component manufacturing and combined component sourcing."

Perkins is owned by the Canadian Varity Corporation, and Detroit is now owned jointly by General Motors and Penske Corporation.