ZURICH—Siemens has signed a 3 billion euro ($3.25 billion) contract to supply and service freight trains in India, the German engineering company said on Monday, the biggest locomotive deal in its history. Siemens will deliver 1,200 electric locomotives and provide servicing for 35 years under the agreement, also its biggest ever in India. The Siemens-designed,…
Siemens Signs 3 Billion Euro Train Deal in India
ZURICH—Siemens has signed a 3 billion euro ($3.25 billion) contract to supply and service freight trains in India, the German engineering company said on Monday, the biggest locomotive deal in its history. Siemens will deliver 1,200 electric locomotives and provide servicing for 35 years under the agreement, also its biggest ever in India. The Siemens-designed,…
Siemens Automates Design Process for Testing New Chips With Advanced Packaging
Siemens Digital Industries Software, a unit of Siemens AG, on Monday said it launched new software called Tessent Multi-die that automates a design process for testing chips made with advanced packaging. While chips have traditionally been packaged with one silicon tile inside, as the industry faces challenges making features on these tiles smaller and smaller…
Gazprom Head Says ‘Sanctions Confusion’ Means Siemens Cannot Service Nord Stream 1: Interfax
September 1, 2022
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Business & MarketsCompaniescrisisenergyEuropeGasGazpromGold and CommoditiesMarketsNordstreamRussiaRussia-Ukraine WarsanctionsSiemensUkraineWorld
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MOSCOW—Gazprom Chief Executive Alexei Miller on Wednesday said Western sanctions mean Siemens Energy is unable to carry out regular maintenance on equipment for the Nord Stream 1 natural gas pipeline, Interfax news agency reported. Periodic replacement of some equipment, such as turbines, is needed to ensure the smooth transport of gas. Its state of repair…
Volkswagen, Siemens Among Companies Investing Over $700 Million to Boost EV Charger Production
June 29, 2022
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Business & MarketsCompanieseconomic policieseconomyelectric vehicleEnvironmentScienceSiemensUSUS NewsVolkswagen
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Private companies including Volkswagen and Siemens have pledged to invest more than $700 million to boost U.S. manufacturing capacity for electric vehicle (EV) chargers, the White House announced on Tuesday. The move is set to increase domestic capacity to manufacture more than 250,000 new EV chargers every year and will add at least 2,000 jobs, while…
Siemens to Buy US Software Company Brightly in $1.58 Billion Deal
ZURICH—Siemens is buying U.S. tech company Brightly Software from private equity owner Clearlake Capital for $1.58 billion, the German engineering group said on Monday, its latest move to broaden its software credentials and grow faster than rivals. Siemens Smart Infrastructure, which offers digital systems to manage buildings’ security and energy consumption, is buying Brightly to…
Siemens Clocks 17 Percent Revenue Growth in Q1; Discloses Asset Divestment Plans
Siemens AG reported first-quarter FY22 revenue growth of 17 percent year-on-year to €16.5 billion. Orders rose 52 percent Y/Y to €24.2 billion. Orders increased 42 percent, and revenue rose 9 percent on a comparable basis. Profit Industrial Business increased 12 percent Y/Y, to €2.5 billion, and the corresponding profit margin came in at 15.7 percent (Q1 2021: 16.5…
Germany’s Siemens Sees Profit up 20 Percent, Raises Dividend
FRANKFURT, Germany—Germany Siemens AG, global maker of big-ticket machines and industrial equipment and software, saw net profit rise 20 percent to 1.8 billion euros in the last three months of 2021 as the rebounding global economy increased orders for its goods, including a 1-billion euro order for high speed trains in Germany. The company on…
Siemens Energy Cuts Outlook as Fresh Problems Emerge at Wind Unit
FRANKFURT—Siemens Energy on Thursday cut its outlook after wind division Siemens Gamesa warned of prolonged supply chain issues, renewing pressure on the German firm to fully take over the unit in order to get a better handle on its problems. Siemens Energy, which owns 67 percent in Siemens Gamesa, said it now expects a margin…
US Authorizes German Firm Siemens Healthineers’ At-home COVID-19 Test
December 30, 2021
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Business & EconomyCCP VirusCompaniesCOVID-19EuropeFDAGermanHealthineersPUBLIC HEALTH INFORMATIONSiemensTestUSWorld
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The U.S. drug regulator has granted emergency use authorization to German health technology company Siemens Healthineers’ at-home COVID-19 tests, a move that will boost availability of tests pressured by rising infection cases. The approval comes at a time when companies such as Walmart Inc., Walgreens Boots Alliance, and CVS Health Corp. have limited sales of…
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