Siemens Gamesa has seen substantial losses
Siemens Energy offers €4bn for SGRE takeover
The German technology firm plans to take struggling wind turbine manufacturer Siemens Gamesa into full ownership
German technology firm Siemens Energy has offered to buy the remaining 32.9pc of wind turbine company Siemens Gamesa Renewable Energy (SGRE) it does not already own for €18.05 ($19.28) per share in cash in a deal worth €4bn. The offer comes amid continuing losses for SGRE. In its Q2 results, which measure performance from January-March this year, the company reports a loss of €385mn, with losses in H1 stacking up to €762mn. It has withdrawn its 2022 guidance and aims to work toward margins of -4pc. SGRE blames rising costs due to continued supply chain disruption and difficulties in the ramp-up of its latest onshore wind platform—called 5.X. The firm reported a 78pc year-on-year fall in orde
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