August 26, 2016 7:24 PM ET

Electrical Equipment

Company Overview of Siemens Energy, Inc.

Company Overview

Siemens Energy, Inc. develops, manufactures, and builds gas and steam turbines, wind turbines, generators, fossil fuel power plants and power-generating components, hydro and wind power plants, solar power plants, geothermal energy systems, photovoltaic inverters, environmental systems, fuel gasifier systems, and fuel cells. The company also provides turbines for use as mechanical drives; compressors for industrial applications; instrumentation, automation, protection, and control systems; power transmission and distribution systems; closed-loop and open-loop systems for industrial steam turbines; and compression, expansion, and ventilation systems, as well as fuel cell technologies and serv...

4400 Alafaya Trail

Orlando, FL 32826

United States

Founded in 1997

Phone:

407-736-2000

Fax:

407-736-5633

Key Executives for Siemens Energy, Inc.

Chief Executive Officer, President and Chief Executive Officer of Siemens Energy Service
Age: 62
Chief Financial Officer of Factory Automation
Chief Financial Officer of Power Generation
Head of Fossil Power Generation Europe, Africa, Asia Pacific
Head of Fossil Power Generation Operating Plant Services
Compensation as of Fiscal Year 2016.

Siemens Energy, Inc. Key Developments

Siemens Energy Inc. Cuts Up to 240 Jobs in Knox County

A Siemens Energy Inc. plant in Mount Vernon is cutting up to 240 jobs as turbulent prices in the oil and gas industry claim another Central Ohio business. The facility has about 900 employees and is one of the Knox County city's major employers. Siemens said 200 to 240 employees will lose their jobs.

Kvaerner North American Construction Inc. Reaches Settlement Agreements with Longview Power, LLC, Siemens Energy, Inc. and Others

Kvaerner North American Construction Inc. has executed agreements with each of Longview Power, LLC, Siemens Energy Inc. and others regarding the disputes between them in both the arbitration proceedings concerning the Longview Project and the subsequent bankruptcy cases of Longview Power, LLC. Under the agreements, Kvaerner North American Construction Inc. will receive an aggregate amount of USD 48 million from various parties. In consideration, Kvaerner North American Construction Inc. will settle certain claims and release the Mechanics' Liens filed against the Longview power plant properties in Maidsville, West Virginia, and will waive all objections in the ongoing Longview Power, LLC bankruptcy proceedings. The settlement is subject to approval in the bankruptcy proceedings. The approval is expected to take place in January 2015 with the receipt of the above-referenced amounts anticipated to occur in February 2015. The financial effects of the agreement will be recognized in Kvaerner's first quarter 2015 accounts. The main financial effects will be reduction of retained assets in the group's balance sheet of USD 48 million. The agreements, upon approval, significantly reduce Kvaerner's uncertainty regarding the final financial outcome of the arbitration and resolve all counterclaims from Longview Power, LLC.

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