MAN SE Overview
Company Headquarters: Munich, Germany
Founded: 1758
Workforce: ~54,297
Company Working: MAN SE is engaged in designing, manufacturing, and marketing commercial vehicles and mechanical equipment. The company is a subsidiary of Volkswagen AG (Germany), which holds a 74.55% interest in MAN SE’s capital. It operates through the two business divisions— commercial vehicles and power engineering. The power engineering division operates through Its subsidiaries, MAN Diesel & Turbo and Renk. The company offers gas turbine services through its Prime Serv brand, which is a part of the MAN Diesel & Turbo segment. The other major products offered under its power engineering division are two and four-stroke engines for ships, diesel and gas power plants, gas turbines, compressors, steam turbines, and chemical reactors. The company caters to industries, such as oil & gas, chemical, processing industries, and electrical utilities.
MAN SE offers comprehensive service for all their equipment through a network of over a 100 service centers across Brazil, Canada, China, France, Germany, India, Oman, Portugal, Qatar, Saudi Arabia, South Africa, Turkey, and the US. Additionally, the company has manufacturing facilities in 14 countries, worldwide, including Brazil, China, Denmark, Germany, India, Mexico, Russia, and South Africa. Some of the company’s key subsidiaries include MAN Truck & Bus Deutschland GmbH (Germany), Renk Aktiengesellschaft (Germany), MAN Trucks India Pvt. Ltd (India), MAN Capital Corp (US), and MAN Truck & Bus Trading Co., Ltd. (China).
Strategy
MAN SE focuses on increasing the overall efficiency of its machinery and equipment and reducing emissions from its products during the forecast period. The company is regularly launching new service centers across the globe to enhance its market share further and also to provide better service to future and existing clients. The energy and transportation markets are expected to grow substantially during the forecast period. This is why it is concentrating on introducing new products and services for these markets to gain a larger market share in the forthcoming years. The services offered for all equipment and machinery manufactured by the company has generated substantial revenue for the company and is expected to continue to generate revenue during the forecast period. Hence, as a part of its key strategy, MAN SE is strategically increasing the number of service centers, globally, to ensure closer proximity to its clients.
