Siemens exits lighting with USD 1.4 billion sale of Osram stake

Siemens is exiting the lighting business, in which it has been involved for the better part of a century. Its remaining stake in a light manufacturer will raise over one billion for the shrinking conglomerate.

BY OLIVER SACHGAU, WILLIAM CANNY & RUTH DAVID, BLOOMBERG

Siemens AG's complete withdrawal from the lighting industry further scales back the once sprawling German conglomerate, as Chief Executive Officer Joe Kaeser offloads assets from trains to medical scanners to household equipment in rapid succession.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Siemens gets gas turbine order
For subscribers
Siemens scales down in the Port of Esbjerg
For subscribers
Siemens exec: We will see the first US order for 100 MW offshore wind in 2020
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Renewables

Copenhagen Energy on new PtX venture: We know it's risky

Copenhagen Energy is now preparing for a major green fuel project, but admits that the project is at the risky end of the spectrum.

For subscribers

Torben Østergaard-Nielsen and his two daughters, Nina Østergaard Borris and Mia Østergaard Rechnitzer, are now focusing even more on energy trading. | Foto: Pr / Ustc

Utilities

Billionaire family bets on energy trading

For subscribers

Ørsted CEO Mads Nipper has work to do to restore confidence after last month's downgrade on US projects, analysts say. | Foto: Ørsted

EnergyWatch.eu

Analyst: Ørsted management must restore confidence

For subscribers

Head of equity research at Sydbank, Jacob Pedersen. | Foto: Pr / Sydbank

Renewables

Vestas analyst expects "quite a few orders" in the coming days - US orders stand out

Oil & Gas

Kristian Siem predicts boom in offshore following a decade of hurt

For subscribers

In total, 24 onshore wind and solar projects were awarded contracts in the RESS 3 auction with an average contract price of EUR 100.47 per MWh. | Photo: Finn Frandsen

Renewables

Ørsted secures funding for Irish solar and wind projects

For subscribers

41-year-old Portuguese dies after work accident at Welcon
One person is dead and two are still in mortal danger after an explosion at Welcon’s factory in Jutland, reports local media.
Nordex to deliver 135MW
The German wind turbine manufacturer will supply 20 turbines for two projects in Italy.
For subscribers
Danish energy minister: Continued North Sea Agreement creates stability
The North Sea Agreement will continue to run as before, which does not rule out the possibility of new ”mini-tenders”.
For subscribers
Equinor signs gas sales agreement
The Norwegian oil company will send 12 TWh to Austrian OMW over the next five years.
For subscribers
Equinor invests USD 3.8bn in UK oil field
The UK authorities have approved the development.
For subscribers
Nord Pool CEO: "The market is already a bit on the edge of what we can balance"
”And the point is that it’s happening before we’ve really gotten started with offshore wind,” adds the chief exec.
For subscribers

41-year-old Portuguese dies after work accident at Welcon

One person is dead and two are still in mortal danger after an explosion at Welcon’s factory in Jutland, reports local media.

Utilities

Billionaire family bets on energy trading

The family has made its fortune in oil and is now increasing its focus on energy trading.

For subscribers

Renewables

Copenhagen Energy on new PtX venture: We know it's risky

Copenhagen Energy is now preparing for a major green fuel project, but admits that the project is at the risky end of the spectrum.

For subscribers

EnergyWatch.eu

Analyst: Ørsted management must restore confidence

Ørsted needs to rebuild confidence after a surprising downgrade and drop its long-term growth plans, says Nykredit analyst, while an SEB analyst has faith in the company in the long term.

For subscribers

Renewables