Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. DEUTZ AG
  6. News
  7. Summary
    DEZ   DE0006305006

DEUTZ AG

(DEZ)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

DEUTZ : and ASKO Group agree on long-term partnership

07/20/2021 | 04:18am EST

20/07/2021

DEUTZ and ASKO Group agree on long-term partnership
  • DEUTZ to supply EU Stage V engines to the four major brands of ASKO Group
  • Service business in Europe to be expanded
  • Joint venture company in Turkey planned to serve the regional markets

Cologne/Sakarya July 20, 2021 - DEUTZ and Turkish construction and agricultural machinery manufacturer ASKO Group have agreed on a strategic partnership. Initially the collaboration incorporates a supply agreement for engines. As part of the cooperation, DEUTZ will also use the local presence of ASKO to strengthen its service business in Turkey and throughout Europe.

In a second phase, both parties intend to meet local content regulations by founding a joint venture company in Sakarya, that shall assemble and produce engines by utilizing already available facilities of ASKO Group companies. DEUTZ shall contribute additional investment as well as technology and production know-how.

The supply agreement covers a broad range of engines, all compliant with the high standards of the EU Stage V emissions regulation, for ASKO Group's four main brands: MST, Başak Traktör, Starken and ELS Lift. After the ramp-up phase DEUTZ expects to deliver a five digit number of engines annually to ASKO Group, replacing the incumbent engine suppliers.

'Customer-friendly solutions for buyers, lessees, and operators are extremely important to us at ASKO. DEUTZ is a leader in state-of-the-art EU V emission compliant engine technology and offers us a product range that perfectly matches the needs of our customers. And with the DEUTZ expertise in electric motors, hydrogen engines and the use of alternative fuels, we are well prepared for our future drive train needs as well,' says owner, president, and chairman of ASKO Group, Sami Konukoğlu.

'We are delighted to have won ASKO, one of the fastest growing companies in our industry in Europe as an important customer. This partnership also strengthens our service business over the long term and provides an opportunity to drive our growth strategy forward,' says Michael Wellenzohn, DEUTZ Board Member for Sales, Service and Marketing.


Caption: The ASKO Group will switch its construction and agricultural machinery almost entirely to sustainable DEUTZ engines.
Credit: ASKO

Download press release (PDF)

Back

Disclaimer

Deutz AG published this content on 20 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2021 08:17:09 UTC.


ę Publicnow 2021
All news about DEUTZ AG
11/25DEUTZ AG : Hauck & Aufhauser reaffirms its Buy rating
MD
11/22DEUTZ : Two DEUTZ apprentices among the best in Germany
PU
11/18DEUTZ AG : Kepler Cheuvreux remains its Buy rating
MD
11/18DEUTZ AG : Hauck & Aufhauser reiterates its Buy rating
MD
11/18DEUTZ AG : Warburg Research remains its Buy rating
MD
11/18DEBUT : DEUTZ and Maeda unveil all-electric crawler crane
PU
11/17DEUTZ : Presentation Capital Markets Day, November 2021 | Financial Update, CFO
PU
11/17DEUTZ : Presentation Capital Markets Day, November 2021 | Sustainable Drivetrains for Off-..
PU
11/17DEUTZ : Presentation Capital Markets Day, November 2021 | Market Outlook and Strategic Pos..
PU
11/17DEUTZ to Seek Acquisitions
CI
More news
Analyst Recommendations on DEUTZ AG
More recommendations
Financials
Sales 2021 1 639 M 1 854 M 1 854 M
Net income 2021 31,6 M 35,7 M 35,7 M
Net Debt 2021 46,6 M 52,7 M 52,7 M
P/E ratio 2021 23,3x
Yield 2021 1,41%
Capitalization 742 M 838 M 840 M
EV / Sales 2021 0,48x
EV / Sales 2022 0,40x
Nbr of Employees 4 701
Free-Float 100%
Chart DEUTZ AG
Duration : Period :
DEUTZ AG Technical Analysis Chart | DEZ | DE0006305006 | MarketScreener
Technical analysis trends DEUTZ AG
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 6,14 €
Average target price 9,18 €
Spread / Average Target 49,4%
EPS Revisions
Managers and Directors
Frank Hiller Chairman-Management Board & Head-Technical
Sebastian C. Schulte CFO, Head-Human Resources & Information Services
Bernd Bohr Chairman-Supervisory Board
Markus Schwaderlapp Head-Research & Development
Markus MŘller Chief Technology Officer
Sector and Competitors
1st jan.Capi. (M$)
DEUTZ AG21.67%838
ATLAS COPCO AB32.46%70 707
TECHTRONIC INDUSTRIES COMPANY LIMITED55.33%40 434
PARKER-HANNIFIN CORPORATION11.94%39 248
FANUC CORPORATION-9.13%39 095
SANDVIK AB14.65%31 408