VM Motori
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VM Motori S.p.A. is a diesel engine manufacturing company in Cento, Italy, which is the heart of Emilia Romagna and also home to Ferrari, Lamborghini, Maserati and Ducati. Founded by two entrepreneurs, Vancini and Martelli (hence the "VM") in 1947, the company produced the first Italian air-cooled diesel engine with direct injection.
In 1964 the company introduced entire new families of air-cooled diesel engines for fishing boats and the industrial machine markets. VM merged with Stabilimenti Meccanici Triestini in Trieste in 1971, and Finmeccanica took a majority stake in the combined company. 1974 saw the introduction of a new series of high-speed (4200 rpm) HR, pre-combustion chamber, water-cooled, turbocharged engines. The Alfa Romeo Alfetta, produced in Arese, rolled off the line with a VM Motori engine under the bonnet in 1979, signaling VM's move to the OEM automotive market. During the 1980s British Leyland chose VM engines as the smoothest, most petrol-like units available for diesel models of their Range Rover and Rover SD1; the choice continued with the later Rover 800.
In 1989 Finmeccanica restructured, selling its stake in VM Motori to company managers and Midland Montague in a leveraged buyout, leaving the company with its single Cento plant.
The after-cooled, electronic-combustion, "Turbotronic" engine was unveiled in 1990. It was supplied to Alfa Romeo, Chrysler, Ford, General Motors, and Rover. Detroit Diesel Corporation (DDC) bought VM Motori in 1995, when OEM automotive sales accounted for 75% of income. A major deal with Chrysler saw agreements to supply engines for their Jeep Cherokee and Voyager models. 2000 saw change again with the purchase of DDC by DaimlerChrysler AG. In 2003 Penske Corporation purchased a 51% stake, and today the company is co-owned by Penske and DaimlerChrysler (which now has a 49% stake). The company still produces diesel engines for a variety of vehicle manufacturers.
Recently, VM Motori's 2.8-litre common rail turbodiesel engine was chosen for the Jeep Liberty CRD. GM Daewoo has also licensed the 1.5-litre and 2.0-litre common rail engine designs, and they are building a dedicated engine plant, aiming to start production in 2006.
