Tuesday, August 14, 2018

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 https://bloom.bg/2LOJJuf 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

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