- MHMM to become sole owner of
Primetals Technologies
- Closing expected by early calendar year 2020
- Financial details not disclosed
Mitsubishi-Hitachi Metals Machinery (MHMM) – an MHI group company – and Siemens AG reached agreement on September 30, 2019, that MHMM will acquire Siemens’ 49 percent stake in Primetals Technologies. Closing of the transaction is subject to customary conditions and is expected by early 2020. Siemens will support the process to ensure a successful closing of the transaction. Following closing, MHMM will assume sole control of Primetals Technologies. Financial details of the transaction were not disclosed.
- Turnkey construction of two 90 MW power plant units
- Production of process steam and district heat
- Annual savings of up to 1 million metric tons of CO2
Siemens will build a highly efficient combined cycle power plant as a turnkey project at the Marl Chemical Park in North Rhine-Westphalia, Germany. The order was placed by the specialty chemical group Evonik Industries. The new industrial power plant will consist of two units, each with an electrical capacity of 90 megawatts, and produce both electricity and process steam for the chemical park. The site’s integrated steam network will also supply district heat for about 2,000 homes in the future. The plant’s fuel efficiency will thus exceed 90 percent. With this combined cycle power plant, Evonik will replace its last coal-fired plant at the Marl Chemical Park. Because the plant will produce environmentally friendly electricity, process steam, and district heat from natural gas, the company will be able to cut CO2 emissions by one million metric tons per year. The plant thus makes an important contribution to decarbonization. Construction is scheduled to begin later in 2019, and the power plant is expected to go into operation in 2022. Siemens Financial Services (SFS), Siemens’ financing arm, developed a leasing financing solution specifically for Evonik in collaboration with Siemens Gas and Power. Together with the KfW IPEX Bank and LBBW, SFS will handle refinancing of the leasing agreement. The project volume is in the lower triple-digit million euro range.
By Jim Hagemann Snabe
“The speculations published in Der
Spiegel magazine are false. It was Mr. Kaeser himself who proposed to the
Supervisory Board that a Deputy CEO be appointed in order to accelerate orderly
succession planning. In response to this proposal, the Supervisory Board
approved the following resolution:
‘The Supervisory Board will decide on the
successor to Joe Kaeser and on the timing of the succession in the summer of
2020.’
No questions about appointments to the Supervisory Board of Siemens AG
were discussed.”
Let the good times roll: Starting September 21, about six million people from all around the world will be enjoying themselves at the Oktoberfest in Munich for two weeks. Traditionally, Siemens supplies drives and control systems as well as energy distribution for the festival's rides. Automation solutions from Siemens also control special beer pipelines – the only ones of its kind worldwide –that supply the Hacker, Winzerer Faehndl and Braeurosl festival tents with their tasty Oktoberfest brews. Because many breweries use Siemens technologies within their brewing process, Siemens doesn't only ensure fresh beer at the Oktoberfest.
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Michael Sen will be proposed as CEO of the future publicly listed company in the energy and electricity sector. He has also been named Co-CEO of Siemens’ Gas and Power Operating Company
- Lisa Davis to support – as Co-CEO of the Gas and Power Operating Company – the transition to the new energy company until the ordinary Annual Shareholder’s Meeting in February 2020. Her contract will expire as scheduled
- Roland Busch appointed Deputy CEO of Siemens AG
- Supervisory Board decision on successor to Joe Kaeser and on date of succession to be made in summer of 2020
At its regular meeting today, the Supervisory Board of Siemens AG made the first personnel decisions required to set the course for the company’s future. Managing Board member Michael Sen – whose current duties include responsibility for the company’s equity investment in Siemens Gamesa Renewable Energy (SGRE) – will be proposed as CEO of the new company in the energy and electricity sector. Plans call for publicly listing the business in September 2020. Michael Sen has also been appointed Co-CEO with Lisa Davis of Siemens’ Gas and Power (GP) Operating Company, effective October 1, 2019. Lisa Davis previously informed the Supervisory Board that, for personal reasons, she did not wish to further extend her present contract. Until the ordinary Annual Shareholders’ Meeting in 2020, she will ensure an orderly handover of her leadership responsibilities to Michael Sen. Lisa Davis will subsequently support the President and CEO of Siemens AG in an advisory capacity until her contract expires.
- Facilities in Baiji will power Iraq’s biggest refinery and deliver
electricity to thousands of homes in liberated areas
- Siemens equipment includes E-class gas turbines, substations and
generators
- Project is start of Phase 2 of Siemens’ Roadmap for Iraq and will be
completed 28 months after financial closing by Iraq’s government
Siemens
and Orascom Construction signed an agreement with Iraq’s Ministry of
Electricity to rebuild Baiji 1 and Baiji 2 power plants in northern Iraq. The
plants will have a combined generation capacity of 1.6 gigawatts (GW) when
completed and are a major step in Siemens’ roadmap for rebuilding Iraq's power
sector that has already added more than 700 megawatts to Iraq’s grid.
At this year's World Energy Congress (WEC) Siemens Gas and Power will give deep insights into how new energy trends are driving the future of energy and how the company is helping its customers navigate the demands of today’s industries and societies.
- Siemens issues bonds with a
total value of €3.5 billion and maturities of two, five, ten and fifteen years
- Investor demand more than
four times higher than issue volume
- Siemens secures most
favorable financing conditions to date
Siemens has
issued bonds with a total value of €3.5 billion. The transaction closed yesterday.
The proceeds of the issuance will be used for general corporate purposes. Investor
demand was very high. At around €15 billion, demand was more than four times
the issue volume. More than 70 percent of the investors are from Germany,
France or the UK.
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- Siemens to replace four floating power generation barges in the Upper Bay of New York City
- SeaFloat turnkey solution will provide reliable peaking power for New York City's renewable ambitions
- Boost power generating efficiency by nearly 50 percent
- 20-year long-term service agreement signed
Astoria Generating Company and Siemens signed a contract for
the turnkey construction of two SeaFloat power barges to be equipped with eight
Siemens SGT-A65 gas turbines. The barges will replace four existing power
barges located at Gowanus Generating Station in the Upper Bay of Brooklyn, New
York City, resulting in cleaner, more efficient energy production. Siemens will
preinstall the high-efficiency power generating facilities on two newly
constructed floating barges with a generation capacity of about 300 megawatts
(MW) each. Retrofitting the station with SGT-A65 gas turbines and generators
will improve the plants' power generating efficiency by nearly 50 percent while
significantly reducing potential emissions of pollutants like carbon dioxide
and monoxide – all while using the existing gas infrastructure.