|Bid||1,241.00 x 0|
|Ask||1,248.70 x 0|
|Day's range||1,237.30 - 1,259.05|
|52-week range||841.00 - 1,366.85|
|Beta (3Y monthly)||1.29|
|PE ratio (TTM)||42.40|
|Earnings date||5 Aug 2019 - 9 Aug 2019|
|Forward dividend & yield||7.00 (0.56%)|
|1y target est||N/A|
Process Systems Enterprise (PSE), the leading supplier of Advanced Process Modelling (APM) software and services, today announced that it plans to be acquired by Siemens AG in a transaction scheduled to close in Q4 2019. The 160-strong PSE operation will be integrated into the Process Automation Business Unit of Siemens Digital Industries. The current PSE management team will remain in place.
The ExOne Company (Nasdaq: XONE) (“ExOne”), the global leader in industrial sand and metal 3D printers using binder jetting technology, today announced a partnership with Siemens, the global technology powerhouse in automation and digitalization, that will benefit industrial customers in the foundry, aerospace, automotive, energy and other markets. Siemens’ Digital Enterprise Portfolio of software and automation technology including MindSphere are fully implemented on the all-new S-Max Pro™ sand printer, that can achieve print speeds of up to 135 l/h (18 s/layer).
Siemens Mobility announced it has won a mid-life overhaul service contract for TriMet’s Type-2 and Type-3 Light Rail Vehicle (LRV) fleet, which is made up of 79 Siemens SD660 LRVs. Through the overhaul, TriMet will be able to maintain a State of Good Repair for the fleet and retain its fleet safety, performance and passenger comfort standards throughout vehicle life. The LRVs are among 119 Siemens Mobility Light Rail Vehicles that are currently being used by TriMet, an ongoing relationship that started in 1995 and has continued to this day.
It is one of Europe's biggest and most important manufacturing companies – an €87bn giant that, in terms of stock market valuation, is dwarfed in its native Germany by only SAP, the software company and Allianz, the insurer. The electrical engineering and electronics conglomerate, which employs 377,000 people around the world including 15,000 in Britain, is proposing to spin off its gas and power unit into a separate company. Siemens will not retain a majority stake in the business but, in a nod to recent concerns expressed by the German government over the ability of foreign companies to take over big German companies , will own a stake sufficient to block any would-be bidders.
Siemens cheered investors on Wednesday by saying it would spin off its faltering 30 billion euro (25.8 billion pounds) gas-turbines business and posting better-than-expected quarterly earnings. The German engineering company said it would hand over to existing investors shares in the Gas and Power unit that has suffered from collapsing demand and cut-throat price competition as customers abandon fossil fuels and switch to renewable energy. The separation is the latest overhaul by Siemens Chief Executive Joe Kaeser who floated Siemens's Healthineers business last year and its wind power business in 2017.
The head of Siemens's Gas and Power business Lisa Davis is targeting 1 billion euros (857 million pounds) in savings by 2023 at the business Siemens wants to spin off from the rest of its operations, according to an analyst presentation. The figure includes the 500 million euros Siemens has already saved by cutting jobs at the unit which has struggled with faltering demand and plummeting prices. Siemens plans to achieve the savings by cutting back office functions, "rightsizing" and having a leaner structure in the regions, although Siemens has given no figures for expected job losses.
Siemens' decision to separate and spin off its struggling gas and power business is intended to strengthen the group's remaining businesses, Chief Executive Joe Kaeser said on Wednesday. "It is about further developing a company which is changing fundamentally," Kaeser told a news conference about the decision to separate the business that has struggled with collapsing demand for large gas turbines as customers switch to renewable energy sources. Many companies dream of being in situation Siemens is in," he said.
Siemens has named former Osram and Bilfinger Chief Financial Officer Klaus Patzak as the new executive to oversee the separation and listing of its Gas and Power Business. Patzak will be responsible for setting up the new company, which Siemens plans to spin off and float on the stock exchange by September 2020, Siemens said on Wednesday. Michael Becker, the current CFO of the Gas and Power division will stay in his role and oversee the operational side of the business which comprises oil and gas, conventional power generation and power transmission.
Siemens is spinning off its gas and power business, which has dragged on the German engineering firm's performance as the rise of renewable power hits demand for gas turbines. The new firm would be a "major player" in energy with revenues of 27 billion euros (£23.12 billion) and more than 80,000 employees, Siemens said on Tuesday, adding that it would now focus on its Digital Industries and Smart Infrastructure businesses. Siemens said the Gas and Power division, which includes its oil and gas, conventional power generation, power transmission and related services businesses, will be set up as a standalone company with the aim of a public listing by September 2020.
Siemens on Tuesday said it would spin off its power and gas business, separating the business which has dragged on the Germany engineering company's performance due to collapsing demand for gas turbines amid the rise of renewable power. Siemens said the new business would create a "major player" on the energy market with business volume of 30 billion euros and over 80,000 employees. The business, which includes the company's oil and gas, conventional power generation, power transmission and related services businesses, is to be carved out with the aim of a subsequent public listing planned to take place by September 2020, Siemens said.
MUNICH/FRANKFURT (Reuters) - German industrial conglomerate Siemens is weighing options for its Gas and Power unit, carving out all or part of the business to prepare it for a potential stock market listing or a merger with a peer, two people close to the matter said. The business caters to the oil and gas industry as well as to power generators and distributors. The sources said Siemens' supervisory board may decide on a potential carve-out at a meeting on Tuesday and could present the plans at the company's capital markets day on Wednesday.
Iraq's government said on Monday it would "cooperate" with German engineering group Siemens in a potential deal to develop the country's power grid, but gave no further details. Siemens and U.S. rival General Electric have been competing for a possible $15 million (£11 million) deal to develop Iraq's electricity infrastructure. "The (Iraqi) cabinet decided to implement a road map for the electricity sector in cooperation with Siemens," the government said in a statement, without elaborating.
Volkswagen has selected Siemens as its integration partner to help connect its 122 plants to Amazon's cloud in an effort to raise efficiency in production, the two German companies announced on Friday. "Siemens will play a key role in ensuring that machinery and equipment of different manufacturers at the 122 Volkswagen plants are networked efficiently in the cloud," they said in a joint statement, without giving financial terms. Volkswagen on Wednesday said it has teamed up with Amazon Web Services to link up and integrate data from plants, machines and systems, as a way to improve and standardise its production systems and processes.
Siemens and China's State Power Investment Corp (SPIC) plan to co-operate on energy plants in the latest move by the German engineering company to revive its ailing gas turbines business. The strategic partnership follows speculation that Siemens is looking to find a joint venture partner for the business, where sales and profit have collapsed amid falling demand and cut-throat price competition. China is one of the few remaining markets for gas turbines, which have lost ground elsewhere due to the increasing popularity and cheapness of renewable power generation.
ZURICH/MUNICH (Reuters) - Siemens wants to present a solution for its struggling turbine business by the time the company holds a capital markets day for investors on May 8, two sources told Reuters on Thursday. The sources said discussions between Siemens and possible joint venture partner Mitsubishi Heavy Industries had intensified recently but they said Siemens was also looking at other options for the business where sales and profit have collapsed. Germany's Manager Magazine has reported that Siemens could enter a joint venture with the Japanese company for building large gas and steam generators while keeping the profitable service business.
MUNICH (Reuters) - Siemens wants to present a solution for its turbine unit by the time of its capital markets day on May 8, two sources said on Thursday after a report said the industrial group was exploring ...
MUNICH (Reuters) - German industrial group Siemens filed the most patent applications in Europe last year, pushing China's Huawei into second place, the European Patent Office said on Tuesday. Siemens ...
Russia's RDIF sovereign wealth fund and a unit of Germany's Siemens signed an agreement on working together on a 300 billion rouble ($4.5 billion) high-speed rail link between the Russian cities of Chelyabinsk and Yekaterinburg, RDIF said on Friday. The deal was signed by RDIF and Siemens Mobility on the sidelines of the Munich Security Conference, RDIF said.
BRUSSELS/ZURICH (Reuters) - Siemens and Alstom's plan to create a European rail champion collapsed on Wednesday after EU regulators blocked the deal, prompting Germany and France to call for an overhaul of EU competition policy to better meet global challenges. The European Commission also rejected a bid by German copper company Wieland-Werke AG to buy a business unit from Aurubis, Europe's biggest copper smelter, similarly arguing the deal could have pushed up prices for consumers. The two vetoes are likely to spur efforts by France and Germany to loosen EU competition rules so as to take a more global than solely European view of mergers and potentially to allow EU ministers to have a say.
ZURICH (Reuters) - Siemens said it regretted the European Commission's decision to block the merger of its rail business with France's Alstom and would now assess "all options" for the future ...
Siemens wants to turn a gas turbines partnership with China's State Power Investment Corporation (SPIC) into a formal contract, the German company's Chief Executive Joe Kaeser said on Wednesday. Siemens and SPIC last year agreed a memorandum of understanding to cooperate on developing technology for heavy-duty gas turbines and provide training and technical consultation for SPIC.
Siemens will accept defeat if the European Union rejects its pleas to allow it to combine with Alstom to create a powerful Franco-German rail business. Having offered a series of concessions to answer competition concerns, Siemens will not pursue the deal at any costs and instead make new plans for its trains business, Chief Executive Joe Kaeser said before the German company's annual meeting in Munich on Wednesday. If it works it will be good for Europe, Siemens, Alstom, and for customers," Kaeser said.
MUNICH (Reuters) - Siemens is "unlikely" to make a renewed attempt to win European Union approval for its planned merger of rail businesses with Alstom's should the current attempt fail, Siemens ...
So what do the events in the UK House of Parliament last night actually mean for Brexit? By sending PM Theresa May back to Brussels to demand things that she has no hope of getting, it makes a chaotic ...
Jan 30 - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason and Helen Reid. Reach them on Messenger to ...