Siemens, Swiss rail company Stadler mull joint venture

German engineering group Siemens and Swiss rail company Stadler are considering a joint venture to bundle all business projects in short and long-distance traffic, Wirtschaftswoche reported, without citing the source of the information.

The chief executives of both companies have already had several discussions, the magazine reported on Saturday, adding that neither Siemens nor Stadler were willing to comment on possible cooperation.

Siemens, Europe’s biggest engineering firm whose products range from hearing aids to gas turbines, announced a massive savings drive late last year to close the gap with more profitable rivals such as US-based General Electric Co and Switzerland’s ABB.


Source : indiantimes

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