wsj.com

Siemens Energy Plans to Spin Off Transformation of Industry Unit

Siemens Energy logoSiemens Energy
Sig2.99Sen+2.46Env+0.40Soc+0.19Gov+1.17

Siemens Energy is preparing to spin off its Transformation of Industry division, exploring potential ownership structures as it concentrates on power generation and power transmission. The unit is struggling to compete for capital while growth in gas turbines and power transmission accelerates. Record orders and bumper profits continue amid a burgeoning U.S. data center sector.

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