RENK Group, a multi-faceted manufacturing firm in Germany, has acquired L3Harris Technologies Combat Propulsion Systems in Muskegon for roughly $400 million in cash. As part of the transaction, a new company was formed — RENK America.
RENK America will convert the 1.2-million-square-foot L3Harris facility at 76 S. Getty St. in Muskegon into its headquarters. It expects to retain L3Harris’ nearly 400 employees, many of whom are military veterans whose lives once depended upon the products they now build.
L3Harris is an industry leader in the design, development, manufacture, remanufacture, assembly, test, and post-production support of military engines, transmissions, suspensions, and turret drive systems.
As part of the transaction, RENK Group also acquired L3Magnet-Motor GmbH in Starnberg, Germany, a global leader in hybrid drive solutions for protected vehicles and Navy vessels.
The new enterprise in Muskegon will continue to provide mobility solutions to the U.S. and allied nations. It will also become the U.S. center of excellence for the RENK Group.
“Becoming part of the RENK Group enables us to reinforce our mission of supporting the U.S. Army and our allies,” says Ted Trzesniowski, CEO of RENK America. “The new organization — strengthened by RENK Group’s advanced technology and resources — will further enhance our combat mobility systems to offer the best value to customers and ideally position us for future platforms.”
RENK America will add to the RENK Group’s global capacity for research and development, manufacturing, and service. RENK America products currently power the Bradley Fighting Vehicle and the M88 Recovery Vehicle.
“We intend to lead the modernization of American armored vehicle mobility systems with the efficiencies and opportunities created by this merger of industry leaders,” says Susanne Wiegand, CEO of RENK Group. “RENK America will advance our ability to empower our forces by offering reliable and safe combat mobility innovations.”
Headquartered in Augsburg, Germany, RENK Group is a manufacturer of transmissions, slide bearings, suspension systems, couplings, and testing systems. The company serves a wide range of end-markets with a particular focus on armored vehicles, defense and civil marine, power generation, plastics, and oil and gas. With more than 2,600 employees, RENK generated sales of EUR 550 million in 2020.