Interview: Siemens CEO Joe Kaeser
Fuel Fix reports that “German engineering conglomerate Siemens is betting big on the United States as economic stagnation limits its opportunities to grow in Europe.”
“In September, the company agreed to pay $7.6 billion for Houston energy equipment manufacturer Dresser-Rand, Siemens’ first big foray into the booming U.S. oil and gas business. Siemens CEO Joe Kaeser said the deal will allow the company to combine Dresser-Rand’s oil and gas expertise with Siemens’ electrical technology. The combination is an opportunity in the oil and gas sector, where drilling equipment and pumps typically are fueled by diesel engines.”
The conversation covers the Dresser-Rand deal, organic growth opportunities in the U.S. and Europe, U.S. regulation and more.