Tag: Siemens

Businesses upbeat on Egypt’s chances at investment meeting

Saturday’s focus shifted to the private sector, with several companies announcing agreements, including some from Germany’s Siemens AG that were the largest single package signed at the three-day conference.  More »

Siemens bid for Dresser-Rand faces in-depth EU investigation

The proposed deal may reduce competition for equipment used by companies active throughout the oil and gas distribution chain, including exploration, storage and refining, the European Commission said in an e-mailed statement today.  More »

Siemens to cut 7,800 employees

German industrial conglomerate Siemens AG said Friday it will scrap 7,800 jobs over the next two years to cut costs, as it faces lower energy equipment profits and a battered European economy.  More »

Siemens said to plan 7,400 job cuts as CEO reduces costs

The cuts, representing about 2 percent of Siemens’s global workforce, may be announced as early as this week.  More »

Dover’s $430m purchase shows appeal of specialty oil field service firms

Oil field service companies will have to be far more frugal as crude prices fall.  More »

German CEO: The world is watching US moves on Keystone XL

Business leaders around the world are watching to see what the United States does with the Keystone XL pipeline, the CEO of engineering giant Siemens said Friday.  More »

Lawsuit: Siemens $6.5B price for Dresser-Rand too low

A shareholder of Dresser-Rand Group says in a lawsuit the Houston compressor and turbine maker is worth more than the $6.5 billion that Siemens AG is planning to pay for it.  More »

Siemens CEO: Dresser-Rand deal provides connection to oil epicenter

Siemens AG’s $7.6 billion deal to buy Houston’s Dresser-Rand Group is about more than collecting gas turbines and super-sonic engines: It’s about getting access to Houston, the epicenter of executive power in U.S. oil and gas, the German conglomerate’s chief executive said Monday.  More »

Russian oligarch owns big stakes in Dresser-Rand, potential Swiss buyer

Dresser-Rand Group and its potential Swiss industrial buyer have at least one thing in common: An ultra-rich Russian metallurgy and energy tycoon with ties to Moscow.  More »

All roads lead to gas as GE, Siemens vie for new markets

With gas set to be the fastest growing fossil fuel over the next 20 years, deals to tap into the coming boom are growing.  More »

Siemens said to be preparing bid to buy Alstom’s gas turbine unit

Siemens AG is preparing a bid for Alstom SA’s energy unit that would leave it with the French company’s gas turbines while allowing partners Mitsubishi Heavy Industries Ltd. and Hitachi Ltd. to expand their steam turbines and hydro businesses, people familiar with the matter said.  More »

Beatles tribute, Siemens party add spice to OTC

The organizers of Offshore Technology Conference wanted to celebrate its 45th anniversary in a big way. So they brought in the Beatles.  More »

Siemens eyes US expansion amid energy boom

Siemens AG CEO Joe Kaeser suggested Wednesday that the global engineering corporation will bring more operations to the United States amid the nation’s energy boom, because “I want to build this company to last.”  More »

Siemens to supply $2.6B US offshore wind plant

Siemens AG, Europe’s biggest engineering company, agreed to supply turbines to the $2.6 billion Cape Wind project, the first offshore wind farm planned in the U.S.  More »

Buffett’s big wind buy boosts confidence in turbines

The decision by Warren Buffett’s utility company to order about $1 billion of wind turbines for projects in Iowa indicates that turbines are becoming profitable without subsidies and that the drop in equipment costs is making renewable energy more competitive with power from fossil fuels.  More »
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