Siemens to close Texas turbines service facility [Seeking Alpha]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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Source: Seeking Alpha
Siemens ( OTCPK:SIEGY ) says it plans to shut down a gas turbines parts and components service center in Houston next year, citing weaker global demand and overcapacity within its network. The Texas operation will close between late 2019 and 2020, resulting in the dismissal of ~200 employees, according to a filing with the Texas Workforce Commission. Along with turbine competitors General Electric and Mitsubishi Hitachi Power, Siemens has faced oversupply and declining sales amid weak demand for gas turbines. Click to subscribe to real-time analytics on SIEGY Now read: Enbridge eyes more capacity for main pipeline to help boost prices » Subscribe for full text news in your inbox
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GE
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- 4/23/24 - Beat
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Sec Filings
- 4/23/24 - Form 10-Q
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- 4/15/24 - Form 3
- GE's page on the SEC website