Compact: Siemens and Gamesa agree on mega deal – THE WORLD

Siemens relies on the wind and closes with the Spanish competitor Gamesa together the world’s largest manufacturer of wind turbines. For about one billion euros the Munich electronics company takes 59 percent stake in the new joint venture company, in which he also brings its own wind power division. Siemens CEO Joe Kaeser said on Friday that the merger would make wind energy cheaper. Siemens and Gamesa are complementary: The Germans are strong especially in the offshore wind farms in the North and Baltic Seas and in North America, the Spaniards at wind turbines on land in China , India, South America and Southern Europe. Together they generate wind power 9.3 billion euros in sales and 839 million euro profit. The order books are well filled with 20 billion euros. Even as a Siemens subsidiary to Gamesa keep its headquarters in Spain .

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