engines

Fiat Boosts Stake in Chrysler to 25% After Hitting Milestone

Italian automaker Fiat increased its stake has in Chrysler Group to 25% after the U.S. automaker met a key goal by starting engine production at a plant in Dundee, Mich., the company said Monday during the North American International Auto Show in Detroit.

Caterpillar to Buy Engine Maker MWM for $810 Million

Caterpillar Inc (CAT) agreed to buy German company MWM Holding, a maker of engines that can run on alternative fuels, for 580 million euros ($810 million). MWM engines operate on fuels including diesel, biogas, and industrial waste gas, and can be used to generate electricity, Caterpillar said in a statement. The company is based in Mannheim, Germany.

Rolls-Royce CEO Rose to Retire in March

Rolls-Royce Group said CEO John Rose will step down at the end of March after more than 14 years in charge of the company. Rose turned Rolls-Royce into the world%u2019s second-biggest aircraft engine maker, Bloomberg News said. John Rishton, who is currently CEO at retailer Royal Ahold NV, will replace Rose.

Saab Reaches Deal to Use BMW Engines

Saab Automobile reached an agreement with Bayerische Motoren Werke AG that will let the Swedish automaker use BMW engines. Initially, Saab will buy BMW engines for its 9-3 model, which is due to be launched late 2012, Bloomberg News reported without naming its sources.

Crews Work to Replace Boeing Dreamliner 787 Jet Engine

Crews are working to replace a Rolls-Royce engine in one of Boeing%u2019s (BA) five 787 Dreamliner test jets after the engine experienced a power surge before takeoff. It%u2019s not yet clear if the 787%u2019s test schedule will be affected, Yvonne Leach, a spokeswoman for Boeing, told Bloomberg News.