Other News

Siemens to cut 2,500 jobs


Siemens said it plans to reduce its headcount by about 2,5000 jobs related to the oil and gas, metals and mining sectors.

Oil & Gas

Mexico’s Pemex pays $295M to settle Siemens dispute, report says


Mexican state oil company Pemex reached a $295 million settlement with a group including German industrial conglomerate Siemens in a longstanding dispute over a refinery project, a person familiar with the matter said on Monday. The deal was originally announced in March but did not give details of the final settlement. A Mexican official close to the negotiations said that Pemex had agreed to settle for $295 million. Earlier in the day, Pemex said in a statement that the deal struck definitively ends the 14-year-long dispute, but it did not give a sum.

Market info

Atlantis set to acquire share of MCT from Siemens


Atlantis has reached an agreement to acquire the entire share capital of Bristol-based tidal business Marine Current Turbines Limited from Siemens in an all share deal. The acquisition is conditional upon certain conditions being satisfied. The move will see the consolidation of two world leading tidal technologies – MCT and Atlantis – under the Atlantis turbine business.