Penske Corporation
The Penske Corporation is a US company headquartered in Bloomfield Township in Michigan . The companies of the corporate group are active in the automotive sector (automotive industry in the broader sense). Chairman is Roger Penske , who became known through his activities in motorsport . The head of the management is Rob Kurnick .
Acquisitions
In 1985 Penske took over the truck division of the car rental company Hertz and renamed it Hertz / Penske Truck Rental . In 1992 the part of the name "Hertz" was deleted. Since then the company has been active in the market as Penske Truck Rental .
On June 5, 2009, Penske announced that it would take over the Saturn brand from General Motors . General Motors was in bankruptcy at the time . Just under three months later, on September 30th, the plan was withdrawn due to uncertainties in production. On October 7, 2009, the last Saturn was produced and the brand discontinued.
Subsidiary (selection)
Penske Corporation includes the following companies, among others:
The Penske Corporation holds major stakes in various companies:
- Ilmor Engineering , engine developer for racing
-
Penske Truck Leasing ( joint venture between Penske and GE )
- Penske Logistics ( supply chain management and logistics service , subsidiary of Penske Truck Leasing)
- Penske Automotive Group , publicly traded company, 40% subsidiary of Penske Corporation
- DJR Team Penske ( Australian V8 Supercars racing team)
Former subsidiaries:
- Detroit Diesel , engine builder that initially belonged to General Motors . In 1988 Penske bought a share. In 2000 the company was taken over by DaimlerChrysler .
- VM Motori SpA , Italian engine manufacturer. In 2007 VM was taken over by GM and Penske. The Penske shares went to Fiat Powertrain in 2011 , which later took over all the shares.
Individual evidence
- ↑ GM to Close Saturn After Deal Fails , The New York Times , accessed September 26, 2017.
- ↑ Penske confirms 2015 V8 Supercar entry . In: Speedcafe , September 15, 2014.