A German business magazine reports that Siemens is exploring options for its struggling gas turbine business, and could look to form a joint venture with Japan’s Mitsubishi Heavy Industries (MHI). Manager Magazin on March 21 said Siemens “wants to accommodate the large turbine business of the Japanese Mitsubishi Group and in the future hold only a minority.”

Reuters, citing two sources, on Thursday reported that Siemens wants a plan in place by its capital markets day for investors on May 8. The sources reportedly told Reuters that talks between Siemens and MHI “had intensified recently,” although Siemens reportedly is looking at other options for the business, including keeping it.

Manager Magazin on Thursday reiterated, as it has reported previously, that Siemens and MHI could combine their large gas and steam generators’ businesses. The magazine said Siemens CEO Joe Kaeser began talks with MHI in 2017 about a joint venture, with the intention to merge the companies’ turbine operations, with Siemens holding a minority stake.…

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