A PYMNTS Company

EU: Siemens aims to tackle turbine troubles by May

By  |  March 21, 2019

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.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.