Siemens shareholders to receive one Siemens Energy share for every two Siemens shares
Jun 1, 2020
Siemens AG has published key details of the spin-off of its energy business, together with the invitation to the Extraordinary Shareholders’ Meeting on July 9, 2020. Siemens shareholders are to … read more »
Jun 1, 2020
PDVSA board believes Nynas stake to be recoverable
Jun 1, 2020
Representatives of Venezuelan oil and gas company PDVSA have said that they believe their stake in the previously besieged firm Nynas AB is recoverable. The president of a special board … read more »
Jun 1, 2020
Siemens Energy to list as spin-off by end of year
May 28, 2020
Siemens has confirmed that it intends to list Siemens Energy on the stock market as a spin-off by the end of 2020. In May 2019, Siemens announced its intention to … read more »
May 28, 2020
280-ton transformer delivered to Großgartach substation
May 27, 2020
A 280-ton transformer has been delivered to Transnet BW’s Großgartach substation. The transformer was built at Siemens in Nuremberg, it arrived in Schwaigern by rail and was reloaded. After reloading … read more »
May 27, 2020
Northern Transformer completes acquisition of VRT Power’s products
May 26, 2020
Northern Transformer Corporation, a leading manufacturer of power transformers for the North American utility market based in Toronto, announced the acquisition of the North American brand, products and designs of … read more »
May 26, 2020
Toshiba Group to donate $250,000 towards Indian social responsibility projects
May 19, 2020
Toshiba Group firms and its employees have pledged to donate over $250,000 to the Indian government to help tackle COVID-19. The company released a statement explaining that the donations were … read more »
May 19, 2020
Nynas exits US sanctions
May 13, 2020
The US Treasury Department’s Office of Foreign Asset Control (OFAC) has announced that Swedish oil specialist Nynas is no longer being blocked pursuant to the Venezuela Sanctions Regulations. As a … read more »
May 13, 2020
U.S. sees 10% decrease in transformer exports for Q1 2020
May 8, 2020
U.S. exports of electrical power transformers (all sizes) decreased by 10.5% for the 1ST quarter of 2020, compared to the same quarter of last year (Q1 2019). USA imports of … read more »
May 8, 2020
China’s Sinotec sanctioned by African Development Bank
May 4, 2020
The African Development Bank has debarred China-registered Sinotec Company Limited from its projects for three years for exaggerating its experience. An investigation conducted by the Bank’s Office of Integrity and … read more »
May 4, 2020
Hammond Power Solutions report 9% decrease in bookings for Q1
Apr 30, 2020
Hammond Power Solutions Inc., a leading manufacturer of dry-type and cast resin transformers and related magnetics, has announced its financial results for the first quarter of 2020. Bookings decreased 8.8% … read more »
Apr 30, 2020
COVID-19 materially challenged GE’s Q1 results
Apr 30, 2020
GE has released its Q1 2020 financial report, highlighting the impact of COVID-19 on the industrial giant’s returns. The company’s Power segment reported a 12% increase in orders from the … read more »
Apr 30, 2020
Schneider Electric shows drop in Q1 sales
Apr 29, 2020
Schneider Electric has posted a smaller-than-expected quarterly revenue decline, citing the significant impact from the COVID-19 pandemic as global shutdowns to curb the fast-spreading virus take effect. The French electrical … read more »
Apr 29, 2020
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