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Press Release13 March 2017Joint press release by Siemens and GamesaMunich
Merger of Siemens Wind Power and Gamesa receives antitrust clearance
"We have reached a milestone in our path to merge Gamesa and Siemens Wind Power and create a leading global wind player. This merger is designed to combine the complementary strengths of both companies to benefit our customers, shareholders, employees, and suppliers. I'm excited about bringing the new company to the market very soon," said Lisa Davis, member of the Managing Board of Siemens AG.
"We're very pleased to have received unconditional approval from the European Commission. This is an historic moment for both Gamesa and Siemens Wind Power," said Ignacio Martín, Executive Chairman and CEO of Gamesa. "This approval brings us one step closer to turning our vision of creating a global leader into reality and forming a company with presence in all the important wind markets," Martín added.
The joint management team of the merged company will take office after being appointed at the first meeting of the new company board and will be announced to all stakeholders promptly after the appointment.
Strongly endorsed from the beginning, the merger was approved by Gamesa's shareholders in October by a majority of 99.75%. In December, Spain's securities market regulator (CNMV) confirmed the merger.
The transaction will create a global wind leader with an installed base of 75 GW, an order book of €20.9 billion and revenue of €11 billion, using pro forma data for the last twelve months as of December 2016. Adjusted pro forma EBIT totals €1.06 billion and implies a margin of 9.6%.Siemens will fully consolidate the merged entity in its financial statements. The merged entity will remain listed on the Spanish stock exchange.
Further information are available at https://www.siemensgamesa.com/
For this press release
Website: Siemens Gamesa
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2016, which ended on September 30, 2016, Siemens generated revenue of €79.6 billion and net income of €5.6 billion. At the end of September 2016, the company had around 351,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
Contact
Alexander Becker
Siemens AG
Wittelsbacherplatz 2
80333 Munich
Germany
80333 Munich
Germany
+49 (89) 636-36558
Úrsula Guerra
Gamesa
Parque Tecnológico de Bizkaia, ed. 222
48170 Zamudio, Vizcaya
Spain
48170 Zamudio, Vizcaya
Spain
+34 915031700