Friday, April 3, 2020

Siemens to Mull Sale of Gas Turbine Business

Posted by June 13, 2018

Siemens AG is considering strategic options including a potential sale of its struggling business that makes large gas turbines for power plants, Bloomberg reported on Wednesday citing people familiar with the matter.

The German engineering company is looking at all possibilities, such as a combination with a rival, the report added.

Siemens has seen a drop in demand at its power and gas business, which makes gas and steam turbines.

Seimens declined to comment on the report.

Reporting by Parikshit Mishra in Bengaluru

Related News