Kaeser

Siemens on July 9 said it has a memorandum of understanding (MOU) to work with China’s State Power Investment Corporation (SPIC) on heavy-duty gas turbines. Siemens said it will support SPIC’s research and development of the turbines and provide training and technical consultation. “The signing today will expedite finalization of a technology cooperation agreement in […]

Siemens and General Electric, two rivals battling financial problems due to fewer orders for their flagship energy products and services, could each announce major restructuring moves in the coming weeks, according to media reports. Reuters on June 21, citing a person familiar with the matter, said Siemens plans to merge or trim some of its […]

Siemens has announced it will cut 6,900 jobs, about half of them in Germany, over the next “several years” as the company consolidates its three power-related divisions. The November 16 announcement comes just days after U.S. power giant GE announced its own restructuring plan. Lisa Davis, a member of Siemens managing board, said in a […]