SEMT Pielstick was formed in 1988 when the business was acquired from GEC Alsthom by MAN and MTU, originally as a 50/50 partnership. MAN increased its shareholding in February 1998 and in December 2006 bought the remaining 33% of the shares held by MTU, thus making MAN the sole shareholder of SEMT Pielstick. The company has been renamed MAN DIESEL SA and trades under this name.
Since 2010, the company has been renamed MAN DIESEL & TURBO, following the Group's new name.
PIELSTICK parts & services are traded and manufactured by MAN Diesel & Turbo France and under the licensees' name, as it is an active company of the MAN group specializing in nuclear-power-plant emergency generators (PA6B N & PC2.6B 600 N) and in Naval propulsion (PA4 200 SMDS, PA6B STC, PC2.5 STC).
Pielstick engines have been/are produced by many licensees and hence are known by many different names:
- Colt-Pielstick — Fairbanks Morse — United States
- Crossley-Pielstick — Rolls-Royce — United Kingdom (sold under the Crossley name)
- Doosan-Pielstick — Doosan Heavy Industries Construction Co (DHICO) — Republic of Korea
- Kirloskar-Pielstick — Kirloskar Oil Engines Ltd. — India
- Lindholmen-Pielstick — Lindholmen Motor AB — Sweden
- Pielstick — Shaanxi Diesel Engine Works — China
- Wärtsilä-Pielstick — Wärtsilä Turku Factory — Finland
- ^ SEMT: Societe d’Etudes de Machines Thermiques; roughly translated company for the study of thermal engines.