Penske Corporation
 | |
| Company type | Private |
|---|---|
| Industry | Transportation |
| Founded | 1969 |
| Founder | Roger Penske |
| Headquarters | Bloomfield Township, Michigan, U.S. |
Key people | Roger Penske (Chairman) Rob Kurnick (President) |
| Products | Auto Racing, Truck Leasing, Retail, Logistics |
Number of employees | ~65,000[1] |
| Website | www |
Penske Corporation /pɛn.skiː/ is an American diversified transportation services company based in Bloomfield Township, Oakland County, Michigan. Roger Penske is chairman of the privately held company, and Rob Kurnick is president.
Holdings
Current
- DAVCO Technology (transportation component manufacturing)
- DJR Team Penske (51% stake) (Australian V8 Supercars team)[2]
- Ilmor Engineering (high performance motorsport engines)
- Penske Automotive Group (PAG:NYSE – a 40+% stake)
- Penske Entertainment Corporation; parent company of:
- IMS, LLC (Operators of the race track)
- IMS Productions, Inc. (Broadcast Television Production Company with Satellite trucks, TV trucks and Audio/Visual Editing facilities)
- Indianapolis Motor Speedway (2.5-mile race track in Speedway, Indiana)
- INDYCAR, LLC (Sanctioning body and parent company of the IndyCar Series)
- Penske Logistics (supply chain management and logistics service)
- Penske Motor Group (retail automotive in California and Texas)
- Premier Truck Group (commercial vehicle dealerships)
- Penske Truck Leasing (joint venture with Penske Corp. and Mitsui & Co., Ltd)
- Penske Truck Rental (truck rental services)
- Team Penske (IndyCar, NASCAR and IMSA team)
- Truck-Lite (transportation component manufacturing)
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.[3][4] Sold to DaimlerChrysler AG in 2000.[5]
- Penske Auto Centers – A former subsidiary that had operated auto repair centers within selected Kmart stores from 1995[6][7] until 2002.[8][9]
- VM Motori S.p.A.[10] – 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.[11]
References
- ^ "Penske named Presidential Medal of Freedom recipient". IndyCar.com.
- ^ "Penske confirms 2015 V8 Supercar entry". Speedcafe. September 15, 2014.
- ^ Levin, Doron (May 25, 1989). "Penske Wins Big at Detroit Diesel". The New York Times. Retrieved October 3, 2013.
- ^ "People: Roger Penske...This Guy Should Run GM". Motor Trend. Retrieved October 3, 2013.
- ^ "Penske Corporation Announces Sale of Its Detroit Diesel Stake to DaimlerChrysler". The Auto Channel. July 20, 2000. Retrieved October 3, 2013.
- ^ "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.
- ^ Buck, Genevieve (September 26, 1995). "Kmart To Sell Automotive-service Chain: Discounter Steers Focus Back To Retail". Chicago Tribune.
- ^ "Penske Auto Centers close for good". United Press International. April 9, 2002.
- ^ Hays, Constance L. (April 9, 2002). "Kmart and Penske Told to End Dispute Over Closing of Auto Centers". New York Times.
- ^ Sutton, Mike (July 16, 2007). "GM, Penske Partner in VM Motori Stake". Ward's. Retrieved October 3, 2013.
- ^ Ganz, Andrew (February 15, 2011). "Fiat to split VM Motori with GM after buying Penske's 50% share". LeftlaneNews. Retrieved October 3, 2013.
