Joe Kaeser News

German conglomerate Siemens AG said it will spin off and give up its majority stake in its energy division and merge it with separately listed wind turbine supplier Siemens Gamesa Renewable Energy (SGRE), creating a new multi-technology global energy powerhouse. The company’s supervisory board announced the spinoff on May 7 as part of its Vision 2020+ strategy concept. The board said the move would help Germany-based Siemens meet medium-term growth and profit targets by “clearly focusing its portfolio on dynamic growth markets and efficiency gains.”"Siemens’ Gas and Power (GP) – comprising the company’s oil and gas, conventional power generation…

Russia's natural gas producer Novatek and German engineering giant Siemens have signed a strategic partnership agreement that covers cooperation in the liquefied natural gas (LNG) sector.Novatek said in a press release that the agreement was signed by Novatek Chief Executive Leonid Mikhelson and his Siemens counterpart Joe Kaeser in Moscow.According to the agreement, the parties intend to strengthen and develop the strategic partnership and cooperation in integrated gas-to-power projects on a “turn-key” basis inclusive of LNG supply, downstream and power generation, large-, mid- and small-scale LNG liquefaction plants and other topics of mutual interest.

Mitsubishi Heavy Industries, Ltd (MHI) and Siemens AG today announced the closing of their joint venture in the field of metallurgical industry. The new company is named Primetals Technologies, Limited and headquartered in London, UK. With this joint venture both partners are forming a globally operating complete provider for plants, products and services for the iron, steel and aluminum industry. Mitsubishi-Hitachi Metals Machinery, Inc. - an MHI consolidated group company with equity participation by Hitachi, Ltd. and IHI Corporation - holds a 51-percent and Siemens a 49-percent stake in the joint venture. With closing of the transaction, the joint venture will start operations with 9,000 employees coming from both partners.

France chose General Electric to form an alliance with Alstom on Friday - rejecting an offer from Siemens and Mitsubishi Heavy Industries - but said the deal still needed some work and added it would buy a 20 percent stake in the hotly-contested company. Economy Minister Arnaud Montebourg said he had used a newly- created state decree to reject both of the existing offers as not being in France's strategic interest, and had formulated fresh demands to GE Chief Executive Jeff Immelt. The decision ended weeks of suspense surrounding one of Europe's fiercest industrial battles in years, but left open major questions about the final shape of an alliance which GE hopes will give it access to new power markets.

Germany's Siemens and Japan's Mitsubishi Heavy Industries presented a joint offer to France's Alstom on Monday that included 7 billion euros ($9.5 billion) in cash, challenging a bid by General Electric. Under the deal, Siemens offered to buy Alstom's gas turbines business for 3.9 billion euros in cash, and MHI to buy stakes in Alstom power assets including hydroelectric power equipment and grid, to be held in separate joint ventures. MHI would inject 3.1 billion euros in cash into Alstom and offer to take a stake of up to 10 percent in the French firm from shareholder Bouygues. "Alstom would remain an independent energy and transport player with a strong brand," Siemens Chief Executive Joe Kaeser said. Alstom said it would review the proposal in the coming days.

Siemens informed that with effect from July 1, 2014, Janina Kugel will assume the position of Chief Diversity Officer (CDO) for Siemens AG in addition to her current responsibilities as Head of Personnel Strategy and Executive Development. Ms. Kugel replaces Denice Kronau, who is leaving the company on May 31, 2014 by mutual agreement to further pursue her writing and speaking career. "Ms. Kronau's outstanding contributions as CDO and leader of Siemens' Diversity Initiative ensured that Diversity has become a significant part of the Siemens values," said Siemens President and CEO Joe Kaeser. "I wholeheartedly thank Ms. Kronau for driving Diversity in Siemens globally with such enthusiasm and credibility. Under Ms. Kronau's leadership the Diversity Initiative achieved notable successes.

German conglomerate Siemens announced a corporate overhaul on Tuesday which will streamline the structure of the company into nine divisions, see its healthcare business managed separately, and its audiology activities publicly listed. In a statement, the Munich-based group also confirmed it was buying the energy business of Rolls-Royce for roughly 950 million euros. The restructuring steps are part of a new strategy to be unveiled by Chief Executive Joe Kaeser on Wednesday in Berlin. The company said the measures, which include a streamlining of human resources and communications functions, would increase productivity by 1 billion euros per year, effective from the end of fiscal 2016. (Reporting by Noah Barkin)

The board of Alstom accepted General Electric's 10 billion euro ($13.82 billion) bid for its energy unit on Tuesday, several sources familiar with the situation told Reuters. Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG , which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer. Alstom is expected to make a statement about the two offers early on Wednesday, before its shares, suspended since late last week, resume trading. The rival bids have triggered a fierce national debate about the fate of power turbine and train manufacturing in France - both integral to the country's engineering pedigree.