logo
Share SHARE
FONT-SIZE Plus   Neg

Siemens To Buy FCE For Undisclosed Terms - Quick Facts

Siemens Industry, Inc. (SI) said it has signed and closed a purchase agreement to acquire 100 percent of the shares of FCE, LLC, a furnace company serving the metals industry. Financial details of the transaction will not be disclosed, Siemens noted.

FCE will operate within the Metals Technologies business unit of the Siemens Industry Sector, and will become the global center of competence for furnaces. The company will continue to operate from its Pennsylvania location and its approximately 20 employees will be integrated into the Siemens business structure.

Aashish Gupta, vice president, Metals Technologies business unit, Siemens Industry, stated, "The acquisition of FCE will enable Siemens to expand and strengthen its portfolio in furnace technologies, which is vital to Siemens' growth strategy."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT