Siemens Power Generation (PG) has announced having reached an agreement with Balcke-Dürr GmbH Deutschland for the acquisition of the heat-recovery steam generator-business of Vienna-based Balcke Dürr Austria GmbH.
With this acquisition Siemens PG will add heat-recovery steam generators for combined cycle power plants to its portfolio. The purchase price was not disclosed. With a workforce of 55, Balcke-Dürr Austria posted revenues totalling approximately €21 million in fiscal 2006.
Siemens says power since demand is rising worldwide, new power plants have to be built as additional capacity and as replacements for the aging power plant fleet. ''In many countries we are experiencing a genuine boom in high-efficiency fossil-fuelled power plants,'' said Klaus Voges, president, Siemens Power Generation.
''With this acquisition we are securing important know-how in the field of heat-recovery steam generators for combined cycle plants. To boost these activities the number of employees is to be increased.'' The services offered by Balcke-Dürr Austria GmbH range from engineering via supply to the installation of heat-recovery steam generators.
"We will focus again on expansion and development of the component and service business," said Claus Brinkmann, CEO of Balcke Dürr Gmbh. "For employees of Balcke Dürr Austria, the acquisition by Siemens will reposition the company closer to its core business."
The Power Generation Group (PG) of Siemens AG is one of the premier companies in the international power generation sector. In fiscal 2007 (which ended September 30), Siemens PG posted sales amounting to more than €12 billion and received new orders totalling approximately €18 billion, according to IFRS. Group profit amounted to €1.147 billion.