Deals
Siemens Said to Mull Sale of Flagship Gas Turbine Business
- Sale among options as market for power equipment slumps
- GE is also struggling with competing gas turbine activity
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Siemens AG is considering strategic options including a potential sale of its struggling business that makes large gas turbines for power plants, according to people familiar with the matter.
The German engineering company is looking at all possibilities, such as a combination with a rival, for what was once a flagship operation within the power and gas division, said the people, who asked not to be identified because the discussions aren’t public. They cautioned that no final decision has been made and the company could end up weathering a downturn and keeping the business.