Siemens Gamesa records €434m loss renews.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from renews.biz Daily Mail and Mail on Sunday newspapers.
Parent Siemens Energy pointed out the result was an improvement but said the red ink was driven by project margins burdened by higher planned costs due to the known quality issues in its onshore unit. The company also said increased product costs and ramp-up challenges in the offshore area are to blame.
Delays may hit Siemens Gamesa shipments renews.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from renews.biz Daily Mail and Mail on Sunday newspapers.
Siemens Energy, Gamesa Shares Fall on 2Q Challenges morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
The wind turbine maker has ousted its second CEO in two years. As another German, Jochen Eickholt may get a frosty reception from Spanish bits of the firm. Parent Siemens Energy won’t mind. The longer Gamesa’s woes drag on, the easier it will be to buy out minority investors.