Siemens Inks $7B Cash Deal for Energy Equipment Maker Dresser-Rand; Joe Kaeser Comments

Joe-Kaeser
Joe Kaeser Siemens has agreed to acquire rotating equipment provider Dresser-Rand (NYSE: DRC) for approximately $7.6 billion cash in a move to grow Siemens’ global oil and gas business. Joe Kaeser, president and CEO of Siemens AG, said Monday that Dresser-Rand will become “the oil and gas” company within Siemens. Siemens expects to complete the transaction by summer of 2015 and...

Cerner to Buy Siemens Health Services for $1B; John Glaser, Neal Patterson Comment

Health
Siemens (NYSE: SI) has agreed to sell its health information technology business to Cerner (NASDAQ: CERN) for $1.3 billion cash following approval from the companies’ respective boards. Cerner said Tuesday that it expects the acquisition to add at least 15 cents in 2015 and 25 cents in 2016 to its non-GAAP diluted earnings per share. “The knowledge and strength of our combined...

Steven Hile Appointed CFO at Sterling Global

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Steven Hile, formerly chief financial and chief operating officer at energy services provider EnergX, has joined Sterling Global Operations as CFO. The company said Friday that Hile brings both commercial business and government market experience to SGO as the company seeks to grow its footprint in regions such as Africa and the Middle East. Alan Weakley, SGO president and chief operating officer,...

DLA Exercises $1.8B Option on Siemens Radiology Equipment IDIQ

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The Defense Logistics Agency has exercised a $1,789,537,539 contract option to acquire radiology systems and related equipment from Siemens Medical Solutions. DLA awarded Siemens the fifth option period under a potential eight-year contract and the option runs through March 30, 2015, the Pentagon said Wednesday. Army, Navy, Air Force, Marine Corps and federal civilian agencies are listed as users...

Siemens Invests $100M in New Manufacturing Systems; Siegfried Russwurm Comments

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Siemens’ (NYSE: SI) corporate financing arm has moved to help startup businesses further efforts to develop manufacturing technologies through a new $100 million fund, TechCrunch reported Monday. Pankaj Mishra writes Siemens Venture Capital intends to finance firms that develop industrial automation systems and to facilitate alliances among companies in order to seek new markets. Siegfried Russwurm,...

Army Finalizes $7B Energy Program Awards, Picks 13 for Biomass

PowerPlant
The U.S. Army Corps of Engineers has made the final round of awards on a 30-year, $7 billion program to acquire renewable and alternative energy from production facilities run by contractors. Thirteen businesses will compete for power purchase agreement task orders to supply biomass energy to Defense Department installations, the Pentagon said Monday. Fifty-two bids were submitted for the multiple...

SAP Co-CEO Jim Hagemann Snabe Named to Siemens Board

Jim Hagenmann Snabe, co-chief executive at SAP AG (NYSE: SAP), has been appointed to the supervisory at Siemens (NYSE: SI), Bloomberg reported Wednesday. Alex Webb writes Hagemann will succeed Josef Ackermann, who resigned from the board last week. SAP will end its dual CEO structure next year with Bill McDermott serving as sole chief executive of the software developer. Ralf Thomas, formerly chief...

Army Awards Wind Portion of $7B Renewable Energy Program

PowerPlant
The U.S. Army Corps of Engineers has selected 17 companies to compete for task orders to provide wind renewable energy to the Army and Defense Department installations under a 30-year, $7 billion program. Wind is the third out of four technologies the Army has awarded under the Renewable and Alternative Energy for Department of Defense Installations program, the Corps said Monday. Awards for geothermal...

Siemens to Supply 116 Wind Turbines for Green Power Plant

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Siemens Energy will manufacture 116 wind turbines that Portland General Electric intends to use for a power plant to supply about 84,000 U.S. households with renewable electricity. Components of the equipment to be installed at the 267-megawatt Tucannon River Wind Farm in Washington state will be fabricated at facilities in Iowa and Kansas, Siemens said Tuesday. The company also has a five-year commitment...

Michael Inacker Named Siemens AG VP for Corporate Communications; Peter Loscher Comments

Michael Inacker
Siemens AG (NYSE: SI) has appointed Michael Inacker, assistant editor-in-chief of German newspaper Handelsblatt and head of its Berlin office, as its vice president of corporate communications and branding. Inacker will lead Siemens’ external and internal communications and report directly to president and CEO Peter Löscher beginning Oct. 1, Siemens said Thursday. The company intends to appoint...