Siemens Snaps Up Steam Generator Cos. For €170M

Law360, New York (July 29, 2011, 3:08 PM EDT) -- Siemens AG on Friday announced plans to pay about €170 million ($244 million) for two Dutch companies that specialize in heat-recovery steam generators used in power plants.

The German conglomerate decided to complement its turbine business and deepen its array of power plant components by buying sister companies NEM BV and NEM Energy Services BV, according to a statement.

The tandem companies manufacture and service heat-recovery steam generators for combined-cycle power plants that use gas and steam. The heat-recovery steam generators convert the heat from a...
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