BERLIN: Volkswagen subsidiary MAN Energy Solutions on Tuesday said it signed an agreement to sell its gas turbine business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co , as the company phases out its fossil fuel business.
The Augsburg-based large diesel engines and turbomachinery maker said the decision to divest from the gas turbine business was made three years ago. It said China's CHGT had given a five-years jobs guarantee for the unit's 100 workers in Oberhausen, Germany, and Zurich. "The newly decided sale of the gas turbine business is a logical next step on the way to transforming into a solution provider for sustainable energy supply," the company said in a statement.
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