Well, the new year is starting off with a bang. Here's process industry news.
Looks like competitors in process industry markets had better pay as much attention to Siemens Energy & Automation as those in discrete industries should. The company just enhanced its presence in the oil, gas and petrochemical industries through the acquisition of Berwanger, a Houston-based engineering and plant services integrator with world-wide operations. It will become part of the oil and gas business of Siemens Industrial Solutions & Services Group. Berwanger's Houston location will become the global center of competence for oil, gas and petrochemical operations.
The announcement mentioned that Siemens expects to invest in the company in order to grow the business. I hope they do. Sometimes an acquisition is followed by the gutting of the acquired company's products and its personnel are replaced by those from the acquiring company. In this case, Siemens is "buying" expertise and human capital. We'll have to watch how this acquisition works out.
10:46:12 AM
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