Siemens realises assets to re-invest in new gas turbine joint venture

Germany’s Siemens has sold it’s stake in engine manufacturer Power Machines to another core shareholder Highstat owned by Alexi Mordashov. ¬≠Power Machines and Siemens will now create a new joint venture to produce gas turbines in St Petersburg. The German company will own two-thirds of the new venture, Power Machines the rest. Investment from Siemens […]