German industrial group Siemens AG and French rival Alstom SA agreed to merge their rail operations, creating a European champion to better withstand the international advance of China’s state-owned CRRC Corp Ltd...
ABB buys GE business for $2.6 billion in bet it can boost margins
Power grids maker ABB is buying General Electric’s Industrial Solutions business for $2.6 billion in a bet it can improve the division’s lackluster margins over the next five years, the Swiss engineering company said on...
Siemens sells Worli office property for Rs 610 crore
Engineering and technology firm Siemens today said it has sold its Worli office property for Rs 610 crore to Whispering Heights Real Estate Pvt Ltd, a joint venture of Reco Solis Pte Ltd and K Raheja Corp Group. The...
Alstom, Siemens in talks to merge rail ops
French train maker Alstom and German engineering group Siemens said on Friday they were in talks about a tie-up of their rail activities as European companies struggle to cope with competition from China. A deal between...
GE nears sale of its industrial unit to ABB: Bloomberg
General Electric Co (GE.N) is nearing a deal to sell its industrial solutions unit to Swiss engineering company ABB Ltd (ABBN.S) in a deal valued at $2.5 billion to $3 billion, Bloomberg reported, citing people with...
Siemens in talks with Alstom and Bombardier for rail deal
Siemens AG is negotiating with Alstom SA as well as Bombardier Inc. about potential rail combinations, giving the German engineering company two options to pursue consolidation in the industry, according to people...
Greaves Cotton ties up with two others for 3-wheeler engines
Engineering major Greaves Cotton today said it has inked a pact with MLR Auto and Continental Engines to develop engines for three wheelers. The partnership aims at developing a new generation of powertrains for three...
Cyient to sell Infotech Aerospace stake to Pratt & Whitney
Engineering services firm Cyient, erstwhile Infotech EnterprisesBSE -1.33 %, has agreed to sell its entire 49% stake in Infotech Aerospace Services to Pratt & Whitney, part of United Technologies Corporation, for...
Cyient agrees to buy US design firm B&F for $5.5 million
Hyderabad headquartered mid-sized engineering solutions firm Cyient, formerly Infotech EnterprisesBSE 0.17 %, has announced signing definitive agreement to acquire 100 per cent equity ownership in the US-based design...
GE, ABB restart talks over industrial solutions deal: sources
General Electric Co (GE.N) has resumed negotiations to sell its industrial solutions business to Swiss engineering company ABB Ltd (ABBN.S), after the U.S. industrial conglomerate moderated its price expectations...
Schneider, Eaton frontrunners to buy L&T’s electrical business
Schneider Electric SE, the French industrial multinational and Eaton Corp have emerged as the top contenders to acquire Larsen & Toubro’ electric and automation division for Rs 15,000-Rs 17,000 crore as India’s...
L&T to sell some non-core businesses to become more nimble
Larsen & Toubro (L&T) hopes to monetise at least two to three non-core businesses as the engineering major hopes to bag at least one large order in the defence division. “We are redefining our core businesses...
