logo
Share SHARE
FONT-SIZE Plus   Neg

Siemens To Buy FCE For Undisclosed Terms - Quick Facts

Siemens Industry, Inc. (SI: Quote) 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

Editors Pick
Apple Inc. said Tuesday after the markets closed that its first quarter profit rose 38% from last year, driven by all time record revenue from iPhone and Mac sales as well as record performance of its App Store. The company's quarterly earnings per share also breezed past Wall Street expectations as did its quarterly sales. We are just a few weeks into 2015 and it has already been a busy year for merger deals and merger talks. Here is a list of some of the M&A stories that have made headlines so far in 2015. Diversified electronics maker TE Connectivity Ltd. is nearing a deal to sell its network solutions business unit to CommScope Holding Co., Inc. (COMM) in a deal valued at about $3 billion, according a Wall Street Journal report on Monday. A deal could be announced as early as this week. There has...
comments powered by Disqus
Follow RTT