- Purchase price of €20.00 per SGRE share
- All shares held by Siemens to be transferred to future Siemens Energy
- Cooperation agreement signed for future joint projects
- Intensified cooperation between Siemens and SGRE will create savings of up to €900 million (NPV) for SGRE
Siemens AG will acquire all the shares of Siemens Gamesa Renewable Energy (SGRE) held by Iberdrola S.A. At its regular meeting today, the Supervisory Board of Siemens AG approved the purchase of Iberdrola’s 8.1% stake in SGRE. The purchase price is €20.00 per share, which corresponds to a 32% premium on top of the average SGRE share price for the last 30 trading days. Siemens will pay the total amount of €1.1 billion from its own resources. All legal disputes between Iberdrola and Siemens will be settled.
- Focus
on Industrial Internet of Things
- Former
head of Strategy Department, Horst J. Kayser, responsible for Siemens’
Portfolio Companies
Peter Körte (44) has been appointed the new head of Siemens’ Strategy
Department, effective February 1, 2020. In this role, he will succeed Horst J. Kayser,
who has been responsible for Siemens’ Portfolio Companies since the beginning
of January and has headed the Strategy Department on an acting basis since that
time. As head of Strategy, Körte will report directly to Deputy CEO Roland
Busch. Körte currently heads the Digital Health unit at Siemens Healthineers’ Diagnostic
Imaging business.
Effective
February 1, 2020, Michael Hagmann (53) will be responsible for setting up
Siemens Energy’s Investor Relations Department. He will report directly to
Michael Sen, designated CEO of Siemens Energy.
- Acquisition to address rising demand for low-voltage power distribution in India
- Siemens to acquire 99% of C&S Electric Limited
- Transaction strengthens local market presence, enables creation of export hub
- Closing subject to regulatory approvals
In a step to meet the increasing demand for electrification across industry, infrastructure and buildings in India, Siemens Ltd. (India) today signed an agreement to acquire New Delhi-based C&S Electric Limited. The acquisition of one of the leading providers of electrical and electronic equipment for infrastructure, power generation, transmission and distribution, will strengthen Siemens’ position as a key supplier of low-voltage power distribution and electrical installation technology in one of the world’s fastest-growing economies. Under the agreement, Siemens Ltd. will acquire approximately 99 percent of the equity share capital of C&S Electric Limited for around EUR 267 million (INR 21 billion). Closing of the acquisition is subject to regulatory approvals. In the future, Siemens envisions this partnership to pave the way for the establishment of a design and manufacturing hub in India, supporting the export of electrification solutions to fast-developing markets around the world. Siemens Ltd. is the local, publicly-listed entity of Siemens AG.
- Siemens Arts Program to showcase
work of persecuted and “ostracized” Jewish musicians in order to mark 75th
anniversary of liberation of Auschwitz concentration camp
- Composer Viktor Ullmann
(1898-1944), murdered in Auschwitz, to be honored with new
3D recording to be released on January 31
- Ullmann’s Piano Concerto Opus 25
recorded for first time in 3D audio format by Rundfunk-Sinfonieorchester
Berlin and Annika Treutler (piano) under the direction of Stephan Frucht
The
Siemens Arts Program has teamed up with pianist Annika Treutler to produce a
new recording of Viktor Ullmann’s Piano Concerto Opus 25, composed in 1939.
This is the first time the work has been recorded using 3D audio processing.
The recording was produced in cooperation with the German broadcaster Deutschlandfunk Kultur and the Rundfunk-Sinfonieorchester Berlin at Berlin-Brandenburg
Broadcasting’s large studio in Berlin under the direction of Stephan Frucht (Artistic Director of the Siemens Arts Program). The recording
process was directed by Professor Thorsten Weigelt (Berlin University of Fine
Arts) and the 3D immersive audio specialist Stefan Bock (IAN Munich).
- Jury’s decision for design by Berlin firm unanimous
- Clear urban development concept and new high-rise structure in center of Siemensstadt
- Historic location to be successfully transformed for the future
Siemens and the State of Berlin invited 18 architecture firms and urban planning teams to participate in the competition to redesign Siemensstadt (“Siemens City”), the company’s historic location in Berlin. After two days evaluating their proposals, the high-caliber jury has now reached a decision: “Siemensstadt 2.0 will be implemented on the basis of a design submitted by the Berlin firm Ortner & Ortner Baukunst,” said Stefan Behnisch, the distinguished architect who chaired the jury’s deliberations. “In the jury’s view, this design will provide a solid basis for the structure of the future Siemensstadt. It’s not the complete picture. It leaves room for necessary developments. It’s a design that treats the historical buildings with respect while enabling their up-to-date utilization. The design fulfills virtually all today’s requirements, but also leaves room for the future development of a new, modern city where people can both work and live,” he added.
- Siemens announces projects to be supported in the Third Funding
Round
- Up to US$ 30 million in funding to be awarded
- Siemens Integrity Initiative's
funding volume exceeds US$ 100 million
As part of the Siemens Integrity Initiative, which has a funding volume
of more than US$ 100 million, Siemens AG has named new projects to receive
funding in order to promote corruption-free markets.
- Kayser
to take on new role at beginning of 2020
- Current
head, Jochen Eickholt, is moving to Siemens Energy
Horst J. Kayser
(58) will be the new Chairman of the Siemens Portfolio Companies (POC),
effective January 1, 2020. In this capacity, he is succeeding Jochen Eickholt, who
is becoming a member of the future Executive Board of Siemens Energy, where he
will be responsible for the Power Generation and Oil & Gas units. Kayser is
currently still Head of Strategy at Siemens AG. Until further notice, he will
continue to lead this department on an acting basis in addition to his new role.
As POC Chairman, Kayser will report directly to Deputy CEO Roland Busch.
- Managing Board members’ individual
responsibility to have greater weight
- In addition to capital market
performance, sustainability targets included for first time
- Contractual maximum compensation
agreed
- New compensation system makes
Siemens a pioneer among DAX companies
Siemens intends
to adjust the compensation system for its Managing Board members in order to
align the system more closely with the company’s sustainable development and
thus with the Vision 2020+ company strategy. By implementing the new system, Siemens
is taking on a pioneering role because the new approach already reflects the
draft version of the German Corporate Governance Code of May 9, 2019, and the
draft version of the act transposing the European Union’s Second Shareholder
Rights Directive into German law. In addition, the new concept not only
considers performance on the capital market, but also places emphasis on
targets for environmental protection, professional development of employees and
customer satisfaction. In the future, the broad-based MSCI World Industrials
Index – instead of a comparison with five main competitors – will be the yardstick
for the comparisons that determine the value of the stock awards. The new Managing
Board compensation system, which already applies as of fiscal 2020, will be
submitted to shareholders for endorsement at the Annual Shareholders’ Meeting on
February 5, 2020.
- Most
of the inventors are from Germany, the others come from the U.S., Russia, China, the UK, Spain,
Italy and Romania
- Thirty-one
inventions per day in fiscal 2019
Siemens has honored 23 particularly resourceful researchers as Inventors of the Year 2019. Together, these scientists are responsible for some 1,450 inventions and 1,500 individual patents. Most of the inventors are from Germany, the U.S., Russia, China, the UK, Spain, Italy and Romania. Their inventions cover the whole spectrum of Siemens. They range from 3D animation for early detection of breast cancer to a new solution for electrifying old rail lines without the need for modifications to bridges and tunnels and continue all the way to a postcard-sized module for industrial controllers that uses artificial intelligence and is thus capable of revolutionizing automation in factories.