Siemens weighs carving out Gas and Power unit: sources [Reuters]
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Source: Reuters
Siemens weighs carving out Gas and Power unit: sources - Reuters 3 Min Read MUNICH/FRANKFURT (Reuters) - German industrial conglomerate Siemens is weighing options for its Gas and Power unit, carving out all or part of the business to prepare it for a potential stock market listing or a merger with a peer, two people close to the matter said. The business caters to the oil and gas industry as well as to power generators and distributors. The sources said Siemens’ supervisory board may decide on a potential carve-out at a meeting on Tuesday and could present the plans at the company’s capital markets day on Wednesday. Siemens declined to comment on the future strategy for the Gas and Power unit, whose gas turbines business has seen orders slump as utilities shift toward renewable energy sources. “The situation on the global market for fossil power plant technology remains unchanged. Siemens began tackling these challenges back in early 2015,” a company spokesman said. Chief Executive J
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