Insiders say Siemens is considering a merger of its railway business with Canadian rival Bombardier – a move that could cost more jobs in an already losing industry.
According to WirtschaftsWoche, a sister publication of Handelsblatt, the two businesses have been in discussions for months. The goal is to form a new, joint company combining the railway car, locomotives and control technology as well as subway and streetcar divisions. Siemens has already adopted a similar strategy with Gamesa, the Spanish wind energy equipment manufacturer.
The move could prove to be sensible. With joint revenues of nearly €15 billion (US$18 billion), the companies could become a stronger counterweight to the Chinese state-run company CRRC, which had annual sales of more than €32 billion (US$36 billion) after currency conversion and is already successfully marketing its railway technology in developing countries across Southeast Asia and the Middle East.
“It won’t be too far in the future when China is also permitted to sell its products in Europe,” said Andreas Matthä, chief executive of Austrian National Railway (ÖBB).
Full Content: The Guardian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Supreme Court Rejects Uber and Lyft’s Appeal in California Gig Worker Suits
Oct 7, 2024 by
CPI
Supreme Court Sidesteps 5-Hour Energy Pricing Case, Allowing Antitrust Claims to Proceed
Oct 7, 2024 by
CPI
Tempur Sealy and Mattress Firm Argue FTC Proceedings Are Unconstitutional in New Suit
Oct 7, 2024 by
CPI
Korean Telecom Giants Face Potential $4.1 Billion Fine Over Price-Fixing Allegations
Oct 7, 2024 by
CPI
Mexico’s Antitrust Authority Targets Gruma for Market Control
Oct 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh