EnergyWatch

Amidst historic price pressure, Siemens Gamesa is optimistic

Wind giant Siemens Gamesa suffered setbacks in almost every key item in the first fiscal quarter of 2018 and the company is virtually a poster child for the all-encompassing price pressure in the industry. But in the darkness shines a light of future price stabilization and higher profitability.

Photo: Siemens

The symptoms are not that hard to spot.

One example is when newly merged Siemens Gamesa announced in November that 6,000 employees would be let go around the world, corresponding to more than 20 percent of the total staff. The merger created one of the world's largest manufacturers, and while some of the redundancies were attributed to a streamlining of the business after the merger, the company also stated that it was facing a major decline in sales by upwards of one fifth in the next fiscal year.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

New developer has 11GW offshore wind ready from inception

Profiles from European Energy, Ørsted and Centrica team up to found a new company aiming to develop solar, onshore wind, offshore wind and do power trading. Theres a hole in the market for us right now — in five years it will be closed, says director.

CIP hires Dutch profile

Current CFO at TenneT Otto Jager will join CIP as partner, with a primary focus on flagship funds.

Further reading

Related articles

Latest News

See all jobs