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Siemens

Balance and inspection of compressor and steam turbine rotors at Dresser-Rand. (Norman J. Quinn/Houston Chronicle)

Dresser-Rand plans to shutter plant, lay off 72 workers

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More Houston-area energy jobs are on the chopping block next year as Dresser-Rand announced plans to shutter a North Houston support facility and lay off 72 people who work there.
Categories: Crude oil
(AP Photo/Paul Sakuma)

Calpine buys power plant for $500 million

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Houston-based Calpine Corp. is expanding its power plant fleet by purchasing the Granite Ridge Energy Center in New Hampshire for $500 million.
Siemens CEO Joe Kaeser (Getty Images)

After recent buying spree, Siemens not planning further acquisitions

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After making two multi-billion purchases in recent years, Siemens has no plans to make any further acquisitions, even as falling oil prices create a prime opportunity for buying and selling, a company executive said Tuesday.
Siemens CEO Joe Kaeser (Getty Images)

Siemens said to need service sales boost to meet margin goal

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Chief Executive Officer Joe Kaeser, who is focusing Siemens on energy generation and distribution, last year spent $7.6 billion on acquiring oil and gas specialist Dresser-Rand Inc. to boost the company’s installed base of equipment and gain the associated lucrative service contracts.
A Japanese drumming ensemble welcomes guests as Mitsubishi Heavy Industries Compressor International Corp. opens a new plant in Pearland.

Maker of chemical plant components opens Pearland plant

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Mitsubishi Heavy Industries Compressor International Corp. officially opened its $75 million manufacturing plant in Pearland, where it plans to put the finishing touches on compressors and steam turbines supplied to customers in the petrochemical sector.
Joe Kaeser, CEO of Siemens, speaks during the IHS CERAWeek conference at Hilton Americas - Houston Wednesday, March 5, 2014, in Houston. (Melissa Phillip/Houston Chronicle)

CERAWeek: Siemens CEO Kaeser still up on U.S. oil industry

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Even after nine months of plunging crude prices, Siemens CEO Joe Kaeser says he still believes the U.S. oil industry is “pretty cool.”
Siemens CEO Joe Kaeser (Getty Images)

CERAWeek Q&A: Siemens CEO will focus on integrating acquisitions amid downturn

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Siemens AG CEO Joe Kaeser talked with FuelFix ahead of his CERAWeek presentation Wednesday about his continued faith in the oil and gas business and global crude demand.
Siemens CEO Joe Kaeser (Getty Images)

German engineering giant expanding U.S. operations in Houston

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Siemens AG, a global engineering giant that employs about 2,000 workers in Houston, is establishing an oil and gas headquarters at its offices in Houston’s Energy Corridor.
Delegates attend an economic conference, in Sharm el-Sheikh, Egypt, Saturday, March 14, 2015. Egypt raked in promises of more than $12 billion in investment and aid from its Gulf Arab allies on Friday, kicking off an international conference aimed at rescuing the country's gutted economy and giving a political boost to its soldier-turned-president. President Abdel-Fattah el-Sissi made his case for the world's support, depicting Egypt as vital to regional stability and a bulwark against Islamic militancy. (AP Photo/Hassan Ammar)

Businesses upbeat on Egypt’s chances at investment meeting

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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.
Siemens CEO Joe Kaeser (Getty Images)

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

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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.