Siemens Acuqires Dresser-Rand for $ 7.6 Billion

Siemens Acuqires Dresser-Rand for $ 7.6 Billion

Siemens Acuqires Dresser-Rand for $ 7.6 Billion

The German engineering company Siemens announced to acquire oil products and services company Dresser-Rand Group.

 The deal, including the assumption of debt, have worth about $7.6 billion.

 “Dresser-Rand is a perfect fit for the Siemens portfolio,” said Joe Kaeser, CEO of Siemens. “With this, Dresser-Rand will become the oil and gas company within Siemens.” added.

 Winning the bidding war for Dresser-Rand would be a big win for Mr. Kaeser. This summer, Siemens lost out to G.E. for the energy assets being sold by the French industiral group Alstom.

 On Sunday in the other deal Siemens announced will sell its 50 percent stake in household appliances joint venture with Robert Bosch GmbH for €3 billion ($3.85 billion)

 Siemens with market cap $85 billion is by far bigger company than Dresser-Rand, whose products it will sell through its divison of sales operations.

 Between another buyers were GE or Swiss pump maker Sulzer, which it was in talks with Dresser-Rand last week, but Siemens won with an all-cash bid of $83 a share.

 Mr.Stakebay says:

 Siemens reach importance in the American energy sector, where already makes some equipment and products, including a section of gas turbines. Acquiring Dresser-Rand, Siemens gains industry as technology for hydraulic fracturing to huge drilling of land.

 

SIEMENS

DRESSER-RAND

Revenue

€ 75.88 Billion (2013)

$ 3.033 billion (2013)

Operating income

€ 4.212 Billion (2013)

$ 321 million (2013)

Profit

€ 4.409 Billion (2013)

$ 168.4 million (2013)

Total assets

€ 101.936 Billion (2013)

$ 3.738 billion (2013)

Total Equity

€ 28.625 Billion (2013)

$ 1.301 billion (2013)

Employees

362 000 (2013)

8100(2013)

 

PRESIDENT, CEO OF SIEMENS…………Joe Kaeser……….(2013-present)……….€4 789 761

PRESIDENT, CEO OF D-R………….Vincent R. Volpe JR. …(2004-present)……….$6 412 325 (2013)

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