Siemens Buys Rolls-Royce Energy Asset to Catch Up With GE

Posted on May 7, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Siemens will buy Rolls-Royce’s energy aero-derivative gas turbine and compressor business to strengthen its position in the power generation and oil and gas industries and manage its health-care business separately, the Munich-based company said in a statement yesterday. The measures will boost productivity by about 1 billion euros ($1.4 billion) a year, starting from the end of fiscal 2016.