3-D Printed Gas Turbine Technology Marks ‘Game Changing’ Milestone

The world’s first 3-D printed burner for an industrial gas turbine has been in operation for one year with no reported issues. Siemens, which installed the burner for the 32.8-MW SGT-7000 gas turbine at E.ON’s combined cycle power plant in Philippsthal in the German state of Hessen said on September 19 that it has been […]

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GE Gas Turbine Blade Issue Concerns Analyst

Lead analyst Stephen Tusa lowered J.P. Morgan’s rating on GE stock after “checks on two initial U.S. installations revealed failures of the first stage blade of GE’s H-frame gas turbine,” thestreet.com reported on September 20. Tusa—who has long been critical of GE’s prospects—reportedly wrote, “The impact on ‘asset value’ from a failure at GE’s U.S. […]

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GE Cutting 225 Jobs at New York Campus

General Electric (GE), long considered the most-prominent business in Schenectady, New York, on April 7 announced another 225 job cuts at its main campus in the city. The announcement comes as GE continues to restructure its operations amid a downturn in global demand for the company’s turbines. GE cut about 110 jobs at the Schenectady […]

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GE to Sell Distributed Power Business to Private-Equity Firm

GE will sell its Distributed Power business, which includes the company’s Jenbacher and Waukesha engines, to Advent International, a global private equity investment company, in a deal worth $3.25 billion. “In Advent, we have a partner that shares our team’s passion for delivering outstanding customer outcomes,” Carlos Lange, president of Distributed Power, said in a […]

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Restructuring on Horizon for Siemens and GE

Siemens and General Electric, two rivals battling financial problems due to fewer orders for their flagship energy products and services, could each announce major restructuring moves in the coming weeks, according to media reports. Reuters on June 21, citing a person familiar with the matter, said Siemens plans to merge or trim some of its […]

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Restructuring on Horizon for Siemens and GE

Siemens and General Electric, two rivals battling financial problems due to fewer orders for their flagship energy products and services, could each announce major restructuring moves in the coming weeks, according to media reports. Reuters on June 21, citing a person familiar with the matter, said Siemens plans to merge or trim some of its […]

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Siemens Will Consolidate Power Divisions, Cut 6,900 Jobs

Siemens has announced it will cut 6,900 jobs, about half of them in Germany, over the next “several years” as the company consolidates its three power-related divisions. The November 16 announcement comes just days after U.S. power giant GE announced its own restructuring plan. Lisa Davis, a member of Siemens managing board, said in a […]

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Siemens Will Consolidate Power Divisions, Cut 6,900 Jobs

Siemens has announced it will cut 6,900 jobs, about half of them in Germany, over the next “several years” as the company consolidates its three power-related divisions. The November 16 announcement comes just days after U.S. power giant GE announced its own restructuring plan. Lisa Davis, a member of Siemens managing board, said in a […]

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GE Power Sells Lucrative Water & Process Technologies Division to SUEZ in $3.4B Deal

Less than a week after GE struck a $2.6 billion deal with ABB for GE’s electrification business, GE Power completed the $3.4 billion sale of its lucrative water and process technologies division to multinational water management firm SUEZ. The sale of GE Water & Process Technologies, a systems and services provider of water, wastewater and […]

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