Energy Sector / Energy Service Division
Siemens Energy expands its power service and emissions control business by acquiring a majority holding in Germany-based Steinmüller Engineering
Erlangen, Germany, 2009-Jun-30
Siemens Energy acquired the majority holding in Gummersbach-based Steinmüller Engineering GmbH, Germany. Steinmüller Engineering provides engineering for both innovative combustion technologies designed to 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. Already well established in the U.S. marketplace with its Environmental Systems and Service business, Siemens Energy is now expanding its environmental business. The transaction is subject to necessary regulatory approvals. The purchase price was not disclosed. The company will retain the name Steinmüller Engineering GmbH and continue to conduct business from its Gummersbach location.
“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. “Steinmüller Engineering is an ideal partner for expanding the capabilities and global reach of our environmental business. Strategically, this combination matches Steinmüller Engineering’s process know-how in energy and environmental emissions reduction technologies with Siemens Energy’s existing environmental business as well as its expertise in plant efficiency upgrades, thus enabling us to help our customers to competitively meet the ever more stringent environmental regulations.“
After Siemens Energy acquired U.S.-based Wheelabrator Air Pollution Control Inc. in October 2005 and Advanced Burner Technologies Inc. (ABT) in May 2006, revenues for this segment of the Siemens service business in the United States have grown 300 percent. “We will gain numerous synergies from the cooperation between our regional environmental businesses, including the application of our extensive knowledge of combustion systems and exhaust-gas cleaning, which is critical for quickly expanding the business in other regions where fossil-fueled power generation is also prevalent,” said Tony DoVale, head of the Siemens Energy Environmental Systems and Service business. Energy services and emission control systems for fossil-fueled power plants are an important feature of Siemens environmental portfolio, with which the company posted revenue totaling almost EUR19 billion in fiscal 2008. That is equivalent to around a quarter of Siemens total annual revenue.
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
Reference Number: EES200906.068e
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Mr. Dietrich Biester
Energy Sector
Siemens AG
Freyeslebenstr. 1
91058 Erlangen
Germany
Tel: +49 (9131) 7-33559