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Siemens Acquires Berwanger to Augment Oil & Gas Business

Source: www.gulfoilandgas.com 1/3/2006, Location: North America

Siemens Energy and Automation, Inc. has completed the acquisition of Berwanger, Incorporated Effective immediately, the company will be named Berwanger Incorporated, A Siemens Company. Terms of the acquisition will not be disclosed. Berwanger will be part of the oil and gas business of the Siemens Industrial Solutions and Services Group (I&S), a global leader in process automation and systems integration. With this purchase, Siemens has made a commitment to strengthen its position in the oil, gas, and petrochemical industries.

“The acquisition of Berwanger will allow Siemens to expand its international reach in the oil, gas and petrochemical industries,” said Aubert Martin, president and CEO, Siemens Energy & Automation, Inc. “Ever-increasing demand for fossil fuels and the impact of recent natural disasters makes process and production efficiency even more critical for oil and gas producers. Berwanger is renowned for its world-class engineering and software development to the oil & gas industries. A combined portfolio of Siemens and Berwanger products, services, and solutions represents a unique and complementary offering to our customers.”

“The combined portfolio of Siemens and Berwanger services and solutions supports an aggressive growth strategy and further penetration into both existing and new markets,” said P. C. (Pat) Berwanger, President and CEO, Berwanger, Incorporated. “In addition, I’m confident Siemens will provide Berwanger with the level of investment required in people, technology and operations to strengthen their global market position.”

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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