Siemens is also already come to an agreement with the supplier of the oil and gas industry in Texas, as the Dax -Konzern announced in the early hours of Monday. Thus, Siemens chief Joe Kaeser has prevailed against his predecessor Peter Löscher, who as chairman of the Swiss Sulzer Corporation also had an interest in a takeover of Dresser-Rand. At the same time Siemens will, as expected, the decades-long cooperation with Bosch Germany’s largest household appliances manufacturer BSH end.
The electric giant with his last around 360 000 employees currently undergoing the biggest remodeling for many years and wants to continue under the leadership Kaeser on the Topics electrification, digitization and automation focus.
THREE BILLION FOR SHARE IN JOINT VENTURE
Bosch takes over the joint venture BSH Bosch and Siemens Home Appliances completely and pay three billion euros for the 50 percent Siemens stake, as both company has announced rushed. Before completion of the transaction should also € 250 million each to Siemens and Bosch are distributed. Was also agreed that BSH home appliances may produce and sell more in the long term under the Siemens brand.
already speculation about the departure of Siemens in the 1967 created a joint venture BSH has been for months. The complete takeover by Bosch is expected to be completed in the first half of 2015 after approval by the antitrust authorities.
“INTERNET OF THINGS”
Bosch CEO Volkmar Denner turn explained BSH take care of its strategic orientation very good for the Bosch Group. The group, which is one of the largest auto parts suppliers worldwide at the same time wants to focus more and more on the “Internet of Things”. This refers to household appliances such as washing machines or refrigerators that are technically able to communicate with the Internet and to be controlled by smartphones.
For the US-Dresser-Rand Company, the last about 8100 employees employed, Siemens offers $ 83 per share in cash, which corresponds to a total value of approximately $ 7.6 billion (approximately 5.8 billion euros). Dresser-Rand has unanimously recommended its shareholders to accept the bid from Siemens. The Munich assume that the transaction is completed by summer 2015.
GROWING IMPORTANCE OF ENERGY FOR SIEMENS
Dresser-Rand is a U.S. supplier for the oil and gas industry. The company manufactures compressors, steam and gas turbines and engines. This complements the existing Siemens portfolio, particularly for the global oil and gas industry as well as for decentralized power generation, said Siemens CEO Kaeser. “Both businesses together to create a world-class provider of the growing oil and gas markets.”
Only last week, a possible bidding war between Siemens and Sulzer and the leadership of Kaeser and extinguishers had signed. According to “Financial Times” wanted least U.S. rival General Electric enter into the race for Dresser-Rand.
IN STRUGGLE FOR ALSTOM EMPTY CONSIDERED
Just three months ago, Siemens was in the tug of war to the French Alstom -Konzern against GE pulled the short straw. The acquisition of Dresser-Rand is for Munich, the largest since the overpriced purchase of U.S. diagnostics provider Dade Behring seven years ago.
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