PG, one of Siemens' leading profit sources is currently experiencing a slowdown with the end of the gas turbines boom in the United States, which fed its development. It is now seeking to offset this slowdown notably by moving onto the energy services market.
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Germany's Siemens group has secured long-term energy services contracts worth a total of Euro 440 million in Germany, Portugal and the United Arab Emirates.
The company's Power Generation (PG) division has been charged with the maintenance of power stations for the BASF chemicals group in Germany, the electricity company Companhia Portuguesa de Producao de Electricidade in Portugal, and the Shuweihat O and M Limited Partnership in the United Arab Emirates. The contracts will run for between twelve and sixteen years.
PG, one of Siemens' leading profit sources is currently experiencing a slowdown with the end of the gas turbines boom in the United States, which fed its development. It is now seeking to offset this slowdown notably by moving onto the energy services market.
PG, one of Siemens' leading profit sources is currently experiencing a slowdown with the end of the gas turbines boom in the United States, which fed its development. It is now seeking to offset this slowdown notably by moving onto the energy services market.
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