Siemens acquires majority holding in Germany-based Steinmüller Engineering
Erlangen, Germany, Siemens Energy is expanding its service business for energy and environmental technology and has acquired a 60 percent majority holding in Gummersbach-based Steinmüller Engineering GmbH, Germany. Steinmüller Engineering provides engineering for both innovative combustion technologies designed to significantly reduce CO2 and NOx emissions and exhaust-gas cleaning systems for fossil-fueled power plants. The company has a work force of more than 60. The purchase price was not disclosed.
With this acquisition the Energy Sector is continuing to invest in its service business for emissions monitoring and reduction in power plants. Back in October 2005, Siemens acquired U.S.-based Wheelabrator Air Pollution Control Inc. in Pittsburgh, a company focusing on products and systems for emissions monitoring and reduction in power plants in the U.S. market. In May 2006, Siemens acquired Advanced Burner Technologies Inc. (ABT) in Pluckemin, New Jersey, USA. Since then, revenues for these environment-friendly products and systems have grown by 300 percent.
“The existing global fossil-fueled power generation infrastructure will continue to be a mainstay of the power industry. As a result, our customers face an increasing demand for emissions controls to create more environmentally benign sources of power generation,” said Randy Zwirn, CEO of Energy Service Division within Siemens Energy.
Together with Steinmüller Siemens will further enhance its service business with environmental technology for combustion systems and exhaust-gas cleaning systems for power plants. This business is part of Siemens’ green portfolio, with which Siemens generated revenues totaling nearly EUR19 billion in fiscal 2008. The green portfolio is growing at ten percent per year and it is anticipated that it will reach EUR25 billion in 2011.
The Siemens Energy Sector is the world’s leading supplier of a complete spectrum of products, services and solutions for the generation, transmission and distribution of power and for the extraction, conversion and transport of oil and gas. In fiscal 2008 (ended September 30), the Energy Sector had revenues of approximately EUR22.6 billion and received new orders totaling approximately EUR33.4 billion and posted a profit of EUR1.4 billion. On September 30, 2008, the Energy Sector had a work force of approximately 83,500. Further information is available at: www.siemens.com/energy.
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