Siemens Charlotte North Carolina - Siemens: Plans to spin off its Gas and Power Division — including a 59% share in wind turbine manufacturer Siemens Gamesa Renewable Energy — is likely to have an impact on its large Siemens Charlotte Energy Hub, details are not yet available.

Siemens Charlotte Energy Hub has been a major player in the Charlotte energy industry for years.

May 17^th, 2019:

• Siemens: Plans to spin off its Gas and Power Division — including a 59% share in wind turbine manufacturer Siemens Gamesa Renewable Energy — is likely to have an impact on its large Siemens Charlotte Energy Hub, details are not yet available.
• cutting back on its conglomerate structure to focus on Digital Industries and Smart Infrastructure as its core businesses.
• Intends to create a new, not-yet-named publicly traded company combining its conventional power, oil and gas, power transmission and renewable energy operations. That includes the turbine and generator manufacturing operation in Charlotte, which has employed up to 1,450 people for several years.
• The company will combine its power operations into a separate business with about 88,000 employees and $27 billion in annual revenue. The new company is expected to be publicly listed in September 2020, following a shareholder meeting on the plan in June 2020.
• Lisa Davis, an American who currently runs the Gas and Power Division, will be CEO of the new company. And last week, Siemens appointed German Klaus Patzak as chief financial officer for the new company.
• The power company may be based in Germany, but a final decision on its headquarters has not been made yet.
• In 2017, Siemens announced it was cutting 6,900 positions worldwide with 90% of those cuts coming in Power and Gas. Pressed by the growth of renewables and the decline of traditional fuels such as coal, nuclear and, in some markets, natural gas, the whole power manufacturing industry underwent unprecedented contraction.
• the power business will no longer have to compete for resources with performing divisions at Siemens …What does this mean? Outsourcing for cheaper than they can buy from siemens?
• “We’ll now have more freedom and agility to be able to concentrate fully on the highly specific and quickly changing requirements of our markets and customers," she continued. "In addition, we’ll be able to more directly control our costs and ensure that our stakeholders benefit directly from every euro we spend.
• Siemens' overall employment in Charlotte has declined in the last two years to 1,450 from a high of 1,600. But it is not clear if any of that reduction occurred at the energy hub.