Penske Corporation

Penske Corporation
Private
Industry Transportation
Founded 1969
Headquarters Bloomfield Township, Michigan, U.S.
Key people
 Roger Penske, Chairman
Rob Kurnick, President
Products Automotive, Truck Leasing, Motor Group, Logistics
Number of employees
 5,000+
Website www.penske.com

Penske Corporation is an American diversified transportation services company based in Bloomfield Township, Oakland County, Michigan. Auto racing legend Roger Penske serves as chairman of the privately held company, and Rob Kurnick as president.

Holdings

Current

Former

  • Detroit Diesel – A former GM subsidiary, Penske purchased a portion of the company in 1988 and, together with General Motors, spun the company off into a separate company.[2][3] Sold to DaimlerChrysler AG in 2000.[4]
  • Penske Auto Centers – A former subsidiary that had operated auto repair centers within selected Kmart stores from 1995[5][6] until 2002.[7][8]
  • VM Motori S.p.A.[9] – 50% was bought in 2003 and the rest in 2007, but a 51% stake was sold to Fiat S.p.A. in February 2011, and the remainder sold to Fiat in 2013.[10]

References

  1. ↑ "Penske confirms 2015 V8 Supercar entry". Speedcafe. September 15, 2014.
  2. ↑ Levin, Doron (May 25, 1989). "Penske Wins Big at Detroit Diesel". The New York Times. Retrieved October 3, 2013.
  3. ↑ "People: Roger Penske...This Guy Should Run GM". Motor Trend. Retrieved October 3, 2013.
  4. ↑ "Penske Corporation Announces Sale of Its Detroit Diesel Stake to DaimlerChrysler". The Auto Channel. July 20, 2000. Retrieved October 3, 2013.
  5. ↑ "Kmart Sells Money-Losing Auto Service Business : Divestiture: Roger Penske buys 860 centers for $112 million. Company to focus on retailing". Los Angeles Times. September 26, 1995.
  6. ↑ Buck, Genevieve (September 26, 1995). "Kmart To Sell Automotive-service Chain: Discounter Steers Focus Back To Retail". Chicago Tribune.
  7. ↑ "Penske Auto Centers close for good". United Press International. April 9, 2002.
  8. ↑ Hays, Constance L. (April 9, 2002). "Kmart and Penske Told to End Dispute Over Closing of Auto Centers". New York Times.
  9. ↑ Sutton, Mike (July 16, 2007). "GM, Penske Partner in VM Motori Stake". Ward's. Retrieved October 3, 2013.
  10. ↑ Ganz, Andrew (February 15, 2011). "Fiat to split VM Motori with GM after buying Penske's 50% share". LeftlaneNews. Retrieved October 3, 2013.
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