MTU Aero Engines

MTU Aero Engines AG is a German aircraft engine manufacturer. MTU develops, manufactures and provides service support for military and civil aircraft engines. MTU Aero Engines was formerly known as MTU München.

History

In Autumn 1968, MAN Turbo GmbH and Daimler-Benz formed Entwicklungsgesellschaft für Turbomotoren GmbH as a 50/50 joint venture, combining their aircraft engine development and manufacturing interests.

In July 1969, the joint venture was superseded by Motoren- und Turbinen-Union GmbH (MTU), which took over the aircraft engine and high-speed diesel engine activities of MAN Turbo and Daimler-Benz.MTU München was responsible for aircraft engines, while MTU Friedrichshafen was responsible for diesel engines and other gas turbines.

In 1985, Daimler-Benz bought MAN's 50% share in the company, and made MTU part of its aerospace subsidiary DASA. In 2000, when DASA was merged with other companies to form the European aeronautics and defense systems company EADS, MTU was split from DASA and stayed part of DaimlerChrysler. In 2003, MTU was sold to private equity firm KKR. Two years later, KKR sold all its shares at Germany's stock exchanges.