Siemens is building 3 gas-fired power plants and wind parks with 600 wind turbines in Egypt.
France has launched its first offshore turbine to curb reliance on nuclear and reach climate goals — France could become Europe's second-largest wind energy producer after Germany. But the transition brings problems.
Labor unions have reacted angrily to layoff plans unveiled by the management of the German conglomerate, which aims to cut costs in its energy business to adjust to the disruption sweeping through the industry.
Under its 'Vision 2020 plan', Siemens has been undergoing significant changes. Is the decision to publicly list its healthcare unit in Frankfurt — the biggest German IPO in 21 years — part of the process?
The German engineering giant is expecting bumper profits in the wake of a massive restructuring that will also cut thousands of jobs. But Siemens believes a new, leaner structure is vital for long-term growth.
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