Siemens | EnergyNorthwest.com

Reports: Trump Administration Supports GE Over Siemens in $15B Iraq Deal

October 21, 2018

Iraq signed a memorandum of understanding on October 15 to develop power plants in the country with General Electric (GE). The Financial Times on October 18 said the $ 15 billion deal was brokered after senior officials in the administration of U.S. President Donald Trump warned Iraq that relations with the U.S. would be threatened if Iraq signed an agreement with Munich, Germany-based Siemens instead of GE, which is headquartered in Boston, Massachusetts.

Siemens in 2016 said it had about 50,000 workers in the U.S. and reported 2016 revenue from its U.S. operations, including more than 60 manufacturing sites, at $ 23.7 billion. GE last year reported it has about 106,000 U.S. employees.

Bloomberg on October 18 said two Trump administration officials who asked not to be identified said senior U.S. officials warned Iraqi Prime Minister Haider Al-Abadi not to move forward with Siemens. Bloomberg reported the Trump administration suspected Iran was pushing Iraq to accept a deal with Siemens “as a way of undercutting ties with the U.S.,”…

Siemens Combining Business Units as Part of New Strategy

August 13, 2018

| No Comments

| Industry News

Siemens reported a 2% rise in industrial profit for its fiscal third quarter on August 2, topping analyst forecasts, though the German engineering giant also reported that revenue for the quarter dropped 4%. The earnings report comes as the company prepares to implement a new strategy that cuts its number of business divisions.

The company announced management changes ahead of the October 1 start of its Vision 2020+ plan, which replaces the company’s Vision 2020 outline adopted in 2014. Under the new plan, whose beginning coincides with the start of the company’s next fiscal year and is scheduled to be in place by the end of March 2019, Siemens’ five industrial divisions will be combined into three operating companies.

The company said the three operating entities—Gas and Power, Smart Infrastructure, and Digital Industries—will give its individual businesses “more entrepreneurial freedom.” The new units will work with what Siemens calls its Strategic Companies, which include Siemens Gamesa, Siemens Healthineers, and the planned Siemens Alstom train unit.…

Restructuring on Horizon for Siemens and GE

June 25, 2018

| No Comments

| Industry News

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 industrial units, which could include its power operations. Reuters said it was told the Munich, Germany-based company would reduce its core industrial divisions from five to three, effective October 1—the start of the company’s next fiscal year. It reported that sources said details of the company’s “Vision 2020+” plan would be known in August.

Bloomberg earlier this month said the company was considering the sale of its gas turbines manufacturing unit.

Germany’s Manager Magazin also reported the changes on Thursday. The magazine said the new divisions would have higher margin targets. It reported that part of the plan is to merge the company’s “so-called Digital Factory unit with operations designed to automate process industries, and to combine overland high-voltage networks with the power plant business.”…

Memo: Siemens ‘Committed’ to Gas Turbines Unit

June 17, 2018

| No Comments

| Industry News

Siemens still hasn’t commented on reports it could be looking to sell its gas turbine business. But the managing board member responsible for the company’s power and gas division reportedly issued a memo to staff in the wake of those reports, saying Siemens remains committed to its long-time flagship product.

Bloomberg, which on June 13 first reported the company could shed its gas turbines, today reported a memo was sent by managing board member Lisa Davis, citing what it called “a person familiar with the document.” The Bloomberg report quoted the memo as saying “There is no truth to the rumors” about a possible sale of the turbine unit. “Siemens is committed to the power generation business for the long term! And of course this is also true for our large gas turbines.”

Bloomberg said the memo, which it claims to have seen, contained instructions on how staff should respond to media inquiries about the future of Siemens’ turbine business.…

MHPS Tops GE, Siemens in Gas Turbine Market

May 5, 2018

| No Comments

| Industry News

A report from Barclays Plc said Mitsubishi Hitachi Power Systems (MHPS) received more than half of all global orders for gas-fueled turbines in the first quarter of 2018, the company’s best-ever performance in a market that has seen traditional gas turbine manufacturers struggle in recent months.

The market report from the London, UK-based multinational investment bank was released May 3. It said Germany-based Siemens AG had 26% of global orders in 1Q2018, with Boston, Mass.-based General Electric (GE)—long the leader in worldwide turbine sales—seeing its share drop to 14%. GE CEO John Flannery, who took the reins of the company last year and immediately set out to restructure its operations, has said GE was slow in recognizing slowing demand for gas-fueled turbines. Flannery has changed the leadership of the company’s struggling Power division and said the group needs a “right-sizing” for market structure, including changes to portfolio, supply chain, and supply base by 2020.

Flannery’s outline for changes came at almost the same time in November 2017 as Siemens announced it would consolidate its power divisions and cut 6,900 jobs.…

Siemens Reaches for Higher Efficiency with Its HL-Class Gas Turbine [PODCAST]

January 2, 2018

| No Comments

| Industry News

Siemens claims to be paving the way for the next level of efficiency with the development of its HL-class gas turbine. In June 2017, the company announced it will validate the technology at Duke Energy’s Lincoln County site in North Carolina. Siemens is developing this class in an evolutionary development step derived from its proven SGT-8000H technology.

The advanced Siemens HL-class gas turbines combine a series of new but already tested technologies and design features with the best of past experience—resulting in a technology carrier to the next level of efficiency and performance. The HL-class is currently achieving greater than 63% efficiency with a mid-term goal to reach 65%.

The post Siemens Reaches for Higher Efficiency with Its HL-Class Gas Turbine [PODCAST] appeared first on POWER Magazine.

POWER Magazine…