Siemens AG (SIEGY) - OTCPK - Current
  • Mon, Jul. 11, 4:43 PM
    • Siemens (OTCPK:SIEGY) is backing away from its earlier warnings that leaving the European Union could make the U.K. a worse place to conduct business and affect the company’s future U.K. investment plans, Financial Times reports.
    • While eager to see some sort of framework plan showing how the U.K. would approach its departure from the E.U., CEO Joe Kaeser says the U.K. remains a re-industrialisation “showcase,” and regardless of the Brexit vote, Siemens would build a “huge manufacturing place” for local transport systems “in a heartbeat” if there were enough domestic orders.
    • After the vote to leave the E.U., Siemens warned long-term plans to export wind turbine blades from its £160M manufacturing plant in Hull likely would be put on hold, but Kaeser brought his top managers to the U.K. this week to help send staff and customers the message that “we’re here for the long term.”
    | Mon, Jul. 11, 4:43 PM
  • Wed, Jun. 29, 2:24 PM
    • Siemens (OTCPK:SIEGY +1.1%) raises its synergy target for the integration of Dresser-Rand and Rolls Royce's energy business to ~€365M ($406M) by FY 2019, much larger than the ~€200M originally expected, despite the material downturn in the sector.
    • Siemens managing board member Lisa Davis tells the Energy and Oil & Gas Capital Market Day in Houston that Rolls-Royce's former energy business would contribute synergies of €115M in FY 2019, up from an expected €50M, and annual synergies from Dresser-Rand likely would hit €250M by FY 2019, ~€100M more than planned.
    • Siemens says it sees synergy potential in cross-selling and services, consolidating research and development, and procurement and optimizing its footprint.
    | Wed, Jun. 29, 2:24 PM
  • Wed, Jun. 29, 12:14 PM
    • Siemens (OTCPK:SIEGY +1.3%) says the U.K.'s decision to leave the EU is causing it to put on hold its plans to export wind turbine blades from a new manufacturing hub in northeast England.
    • While Siemens' U.K. CEO tells the Guardian that the Hull factory remains on track to open in the coming months, with the current order pipeline for U.K. projects, the company is halting longer-term export plans until the U.K. government provides more clarity on how it will trade with the rest of the EU.
    • It is unclear how much money the EU contributed toward development of the Hull project, but it has put up £525M for the Beatrice wind farm project in Scotland, whose developer will be a major buyer of the Hull factory’s turbine blades, the Guardian says.
    | Wed, Jun. 29, 12:14 PM | 1 Comment
  • Mon, Jun. 20, 11:48 AM
    • Siemens’ (OTCPK:SIEGY +2.7%) $11B wind power turbine merger with Gamesa (OTCPK:GCTAY -1.7%) creates a market giant to rival Vestas Wind Systems (OTCPK:VWDRY) and GE but faces a challenge in harnessing planned savings, according to analysts at Barclays and Morgan Stanley.
    • Barclays expects only a fraction of the planned 70M revenue synergies will be achieved, and does not believe the onshore and offshore businesses offer "any sort of synergy potential" in sales, as the two businesses deal with different customers, technology and drivers.
    • Siemens and Gamesa have identified €230M in cost cuts within four years, and while the product synergies “are clear,” achieving that target remains a risk, Morgan Stanley analyst Ben Uglow says.
    • Nevertheless, Stanley rates Siemens a Buy as "in terms of product overlap, Siemens brings a number one position in offshore turbines [and a] strong offering in developed markets.”
    | Mon, Jun. 20, 11:48 AM | 3 Comments
  • Fri, Jun. 17, 4:21 AM
    | Fri, Jun. 17, 4:21 AM | 2 Comments
  • Thu, Jun. 16, 4:58 PM
    • Siemens (OTCPK:SIEGY) has agreed to pay ~$1B to Gamesa (OTCPK:GCTAF) in a deal to merge the companies' wind energy businesses, Bloomberg reports.
    • Gamesa will receive the cash as a special dividend from the new wind venture plus a 41% stake in the business, with Siemens holding 59%, according to the report, which adds details to speculation earlier this week.
    • The new venture could have a market cap of ~€10B ($11B), Bloomberg says.
    | Thu, Jun. 16, 4:58 PM
  • Wed, Jun. 15, 7:51 AM
    • Siemens (OTCPK:SIEGY) and Gamesa (OTCPK:GCTAY) are close to announcing an anticipated deal to combine their wind-power activities and create the world’s largest wind turbine maker, WSJ reports.
    • The deal structure foresees Siemens transferring its offshore wind activities into the Spanish company in exchange for a roughly 60% stake in the enlarged business.
    • The combination is expected to result in annual savings of around €200M.
    | Wed, Jun. 15, 7:51 AM | 1 Comment
  • Mon, Jun. 13, 8:11 AM
    • Siemens (OTCPK:SIEGY) has no interest in becoming a white knight for German robot maker Kuka (OTCPK:KUKAY), which is the target of a €4.5B takeover bid by Chinese home appliance maker Midea.
    • "If we had been interested, we would have acted on it some time ago," CEO Joe Kaeser told n-tv in an interview.
    • Midea's bid has fanned a furious debate over Chinese takeovers in Europe, with some politicians calling for tougher restrictions.
    | Mon, Jun. 13, 8:11 AM | 7 Comments
  • Mon, Jun. 13, 7:53 AM
    • ABB has poached a Siemens executive (OTCPK:SIEGY) as it shakes up its automation unit, where profit margins have shrunk amid sluggish demand for the unit's motors, drives and factory robots.
    • The company named Sami Atiya as head of the Discrete Automation and Motion Division and relegated its former boss, Pekka Tiitinen, to head of the country's Finland operations.
    | Mon, Jun. 13, 7:53 AM
  • Tue, Jun. 7, 10:09 AM
    • The head of General Electric's (GE +0.8%) power business sees more than $8B of sales opportunities around the globe facing possible delays as energy projects search for financing in a capital-constrained world.
    • The stalled resumption of the U.S. Export-Import Bank is adding to the challenge as more customers are looking for funding, Steve Bolze declared, commenting that companies in the Middle East are increasingly looking at loans amid falling commodity prices.
    • In addition to acquisitions, GE Power is looking to build out the services business by providing aftermarket work on equipment from competitors such as Siemens (OTCPK:SIEGY +1.5%) - a capability it recently gained from Alstom.
    | Tue, Jun. 7, 10:09 AM | 5 Comments
  • Thu, May 19, 8:17 AM
    | Thu, May 19, 8:17 AM
  • Wed, May 4, 8:54 AM
    | Wed, May 4, 8:54 AM
  • Wed, May 4, 3:42 AM
    • Royal Dutch Shell's (RDS.A, RDS.B) CCS (Current Cost of Supplies) earnings per share, excluding identified items, decreased 63% to $1.6B, as the tumble in oil prices continued to take its toll.
    • Unfavorable currency effects and a weak Brazil market weighed on AB InBev's (NYSE:BUD) net profit, but the brewer said it expects to close its SABMiller (OTCPK:SBMRY) deal in the second half of 2016.
    • Siemens (OTCPK:SIEGY) powered ahead with better than expected second-quarter profits, boosted by earnings growth at its power, gas and energy-management divisions.
    | Wed, May 4, 3:42 AM | 2 Comments
  • Tue, Apr. 19, 7:50 AM
    | Tue, Apr. 19, 7:50 AM
  • Thu, Apr. 7, 7:49 AM
    | Thu, Apr. 7, 7:49 AM | 3 Comments
  • Mon, Apr. 4, 4:51 PM
    • Siemens (OTCPK:SIEGY) is in early-stage talks with Emerson Electric (NYSE:EMR) about acquiring the network power business EMR is looking to sell for as much as $4B, Reuters reports.
    • EMR, which said last June it would seek to spin off the network power business and explore options for its remaining non-core portfolio, also is talking with P-E firms including Platinum Equity, and other companies also have expressed interest, according to the report.
    • A potential deal would allow EMR to focus on its core industrial automation businesses, as well as its commercial and residential heating and air conditioning divisions.
    • Now read Emerson Electric: Sell on 19% share price appreciation
    | Mon, Apr. 4, 4:51 PM | 7 Comments
Company Description
Siemens AG is engaged in electronics and electrical engineering. The Company operates in sectors such as Industry, Energy and Healthcare.
Sector: Technology
Industry: Telecom Services - Foreign
Country: Germany