Siemens to Acquire Heat-Recovery Steam Generator-Business of Balcke Dürr Austria
Erlangen, 2007-Dec-07
Siemens Power Generation (PG) has reached an agreement with Balcke-Durr GmbH Deutschland on the acquisition of the heat-recovery steam generator-business of Vienna-based Balcke Durr Austria GmbH. With this acquisition Siemens PG will add heat-recovery steam generators for combined cycle power plants to its portfolio. The purchase price was not disclosed. With a workforce of 55, Balcke-Durr Austria posted revenues totaling approximately EUR21 million in fiscal 2006.
Power demand is rising worldwide. New power plants have to be built as additional capacity and as replacements for the aging power plant fleet. "In many countries we are experiencing a genuine boom in high-efficiency fossil-fueled power plants," said Klaus Voges, President of Siemens Power Generation. "With this aquisition we are securing important know-how in the field of heat-recovery steam generators for combined cycle plants. To boost these activities the number of employees is to be increased." The services offered by Balcke-Durr Austria GmbH range from engineering via supply to the installation of heat-recovery steam generators.
"We will focus again on expansion and development of the component and service business," said Claus Brinkmann, CEO of Balcke Durr Gmbh. "For employees of Balcke Durr Austria, the acquisition by Siemens will reposition the company closer to its core business."
The Power Generation Group (PG) of Siemens AG is one of the premier companies in the international power generation sector. In fiscal 2007 (which ended September 30), Siemens PG posted sales amounting to more than EUR12 billion and received new orders totaling approximately EUR18 billion, according to IFRS. Group profit amounted to EUR1.147 billion. On September 30, 2007, PG had a work force of more than 40,400 worldwide (preliminary figures, unaudited). Further information at: http://www.siemens.com/powergeneration.
Reference Number: PG200712.012 e
Press Office Power Generation
Mr. Alfons Benzinger
P.O. Box 32 20
D-91050 Erlangen
Tel: +49-9131 18-7034
Fax: +49-9131 18-7039
alfons.benzinger@siemens.com
