Siemens Q3 strong on big industry, energy projects Jul 30, 2008
(Adds share price) By Nicola Leske MUNICH, July 30 (Reuters) - German engineering group Siemens posted a stronger-than-expected rise in new orders and revenue thanks to large projects in its industry and energy businesses, sending its shares up 6 percent. Third-quarter new orders rose 26 percent, adjusted for currency effects, to 23. (guardian.co.uk)
Global shares rise on U.S. glimmers of hope Jul 30, 2008
Some earnings results have also pleased, including German engineering group Siemens posting a stronger-than-expected rise in new orders and revenue, and U.S. consumer product maker Colgate-Palmolive reporting a 19 per cent jump in quarterly profits. So far in the (European) earnings season we've had balanced positive and negative surprises, with most of the negatives from the financial sector and the positives from industrials, said Thierry Lacraz, strategist at Swiss bank Pictet. (Globe and Mail -- Business)
Europe, Japan, U.S. pile on economic gloom Jul 30, 2008
French tire maker Michelin reported a decline in first-half operating income and German engineering group Siemens predicted weaker order growth in coming quarters. German engineering orders fell by 5 per cent on the year in June, data showed. (Globe and Mail -- Business)
Euro zone business morale sinks in July Jul 30, 2008
In a sign that the real economy is affected, German engineering group Siemens said it expected to see weaker order growth in coming quarters. Separately, the European Commission said its Business Climate Indicator, which helps establish the phase of the business cycle, fell to -0. (Globe and Mail -- Business)
UPDATE 1-Siemens order growth beats expectations, keeps outlook Jul 30, 2008
MUNICH (Reuters) - German engineering group Siemens (SIEGn. DE: , , ) posted a stronger than expected rise in new orders and revenues, confirmed its fiscal year 2008/2009 outlook and said it expects less favourable conditions in the coming year. (Reuters)
A question that needs raising Jul 30, 2008
Michael West on capital raisings. Welcome to The Sydney Morning Herald. (Sydney Morning Herald -- Business)
Siemens plans to sue 11 former executives Jul 30, 2008
Siemens AG plans to claim damages from 11 former top managers, including former Chairman Heinrich von Pierer and ex-Chief Executive Klaus Kleinfeld, for failing to stop illegal practices and bribery at the company, the German engineering group said on Tuesday. The supervisory board of Siemens has approved the move and said former managers will be given a chance to state their case on the accusations before legal action for damages is taken. (Xinhuanet, China)
Alcatel-Lucent dumps CEO, chairman Jul 29, 2008
A tireless strategist, he engineered a restructuring of the sprawling Alcatel empire into the core telecoms activities, a defence branch that became part of Thales and the Alstom industrial engineering group. His departure is likely to reopen speculation over the future of Alcatel's large stake in Thales, which Mr. Tchuruk had, according to sources close to the matter, wanted to keep. (Globe and Mail -- Business)
Xantrex agrees to takeover by French group Jul 29, 2008
METRO VANCOUVER - Burnaby-based Xantrex Technology Inc. announced Monday it is being acquired by French electrical engineering group Schneider Electric SA in a deal worth about $500 million. The cash deal, with a purchase price of $15 per share, represents a 55-per-cent premium over the average closing price of Xantrex stock for the 30 days ending July 21, when the company revealed that it was engaged in negotiations for a sale. (Vancouver Sun)
Former Siemens manager convicted in bribery case Jul 28, 2008
A German court gave a former Siemens executive a fine of nearly $170,000 (85,600 pounds) and a two-year suspended prison sentence for his role in setting up slush funds used to win contracts for the German engineering group ... They may result in Europe's biggest engineering group's being banned from bidding for certain U.S. contracts. (International Herald Tribune -- Technology)
Northrop Grumman One of Several Companies Awarded U.S. Air Force Flexible Acquisition and Sustainment Program Contract With a Ceiling Value of $6.9 Billion Jul 28, 2008
Included are those at our logistics and sustainment centers of excellence, as well as at our sustaining engineering centers, which are located at each of three Air Force Air Logistics Centers,'' said Dave Werkheiser, vice president and general manager of the Life Cycle Optimization and Engineering Group for Northrop Grumman Technical Services sector, which will act as the prime contractor. Our team is ready to support the Air Force in its worldwide missions with superior performance on F2AST... (Primezone Releases)
Northrop Grumman inks Air Force contract Jul 28, 2008
We have a proven success record with supplier and subcontractor management across many programs, said Dave Werkheiser, vice president and general manager of the life cycle optimization and engineering group for Northrop Grumman s technical services sector. Northrop Grumman expects the bulk of its work to be performed in Warner Robins, Ga. (Washington Business Journal, DC)
Siemens Unit Head Says Sees Slower Growth in 08/09 Jul 27, 2008
Engineering group Siemens is due to report third quarter results on July 30. In a separate interview with German daily Berliner Zeitung published on Saturday, Hiesinger said Siemens could enter the automotive market again if there was demand for some of its components such as electric motors. (ABC News -- Wire)
SEC Files Insider-Trading Case Over Option Buys Jul 26, 2008
94 billion, while American Power was bought by French engineering group Schneider Electric SA for $6. 1 billion last year. (ABC News -- Wire)
GE reorganizes into 4 units to spur growth, efficiency Jul 26, 2008
The move comes a week after Joseph Hogan, who had served as chief executive of the $17 billion health-care segment, left GE to take the top job at Swiss-Swedish engineering group ABB. That business, which had been one of GE's six segments, will now report to the Technology Infrastructure unit, headed by GE Vice Chairman John Rice. Immelt has been under pressure to shake up GE since disappointing first-quarter earnings shocked investors. (USA Today -- Money)
Jacobs Engineering Group Inc. Reports Record Earnings and Backlog for the Third Quarter of Fiscal 2008 Jul 22, 2008
Jacobs Engineering Group Inc. (NYSE:JEC) corporate logo ... July 21 /PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. (NYSE: ) announced today its financial results for the third quarter of fiscal 2008 ended June 30, 2008 ... SOURCE Jacobs Engineering Group Inc.. (PR Newswire)
Valmont Reports Second Quarter Results Jul 18, 2008
The acquisition of West Coast Engineering Group contributed meaningfully to segment results and is now being integrated with Valmont's operations ... " Second Quarter Segment Review: Engineered Support Structures Segment (38% of 2nd Quarter Net Sales) Structures for lighting and traffic, wireless communication and overhead signs, worldwide. Includes all support structures outside of North America. Sales were $191.0 million, an increase of 19% over last year's $160.6 million second quarter... (PR Newswire)
Updated: 450-mm debate remains heated Jul 18, 2008
"We don't see reason to change our priorities,'' said Skip Miller, director of strategic marketing at ASML Holding NV. Besides, going to 450-mm provides no real benefit for the industry, said Masayuki Tomoyasu, senior vice president and chief engineer at Tokyo Electron Ltd. (TEL) ''Cost and risk are too great'' for 450-mm, said Walter Class, a consultant, who represents Axcelis Technologies Inc., at the event. ''Scaling of plasma tools is non-trivial'' when going to 450-mm, said Dave Hemker,... (EETimes)
GE's Joseph Hogan new CEO of ABB Jul 17, 2008
ZURICH: Swiss-Swedish engineering group ABB appointed Joseph Hogan as its new chief executive, after months of searching, to replace Fred Kindle, who was pushed out after a clash with the company's chairman. ABB, which sells equipment to utilities as well as to oil and gas companies, said Hogan currently chief executive of GE Healthcare will join on Sept 1. (India Times)
Severn tidal 'fence' idea floated Jul 17, 2008
Severn Tidal Fence group (STF) includes engineering groups Amec and BMT and Edinburgh University ... STF GROUP PARTNERS Amec Engineering group Marubeni Europe plc Trading and investment house Edinburgh University Researcher into tidal currents and tidal stream power Econnect Renewable energy projects company BMT Engineering, science and technology consultancy IT Power Sustainable energy consultancy NaREC New energy research and development Pulse Tidal Tidal stream generating development Source:... (BBC News -- Science)
ABB names GE Healthcare chief Hogan CEO Jul 17, 2008
ZURICH ABB appointed Joseph Hogan as its new chief executive, heralding what analysts said could be a fresh round of acquisitions by the cash-rich Swiss-Swedish engineering group. Investors cheered the move and ABB shares rose almost 4 per cent on news of the long-awaited replacement for Fred Kindle, who shied away from deals and was pushed out in February after a clash with chairman Hubertus von Gruenberg. (Globe and Mail -- Business)
Synopsys and Mattson Collaborate on Advanced TCAD Process Simulation of CMOS Technology Jul 16, 2008
"Process technologies are increasingly complex and costly to develop, and therefore TCAD tools with models calibrated to specific process conditions are very important to guide experimentation and process optimization," said Howard Ko, senior vice president and general manager of the Silicon Engineering Group at Synopsys. "Collaborations with leading equipment vendors such as Mattson Technology are a critical component of our strategy to deliver advanced and accurate TCAD tools to the market."... (PR Newswire)
Waterview/Shangri-La developer says loan on track Jul 16, 2008
Its definitely happening, says Zac Henson, CEO of the U.S. subsidiary of Beijing Construction Engineering Group Ltd., which is arranging the financing. Yet construction of the condominium-and-hotel tower has largely ground to halt and isnt likely to start again until the loan goes through. (Crain's Chicago Business)
Jobs in the firing line as banks feel the pinch Jul 8, 2008
Online Edition Powered By IOL. Johannesburg - After announcements from two major financial institutions that they are shedding staff, a third plans to follow suit. (Business Report, South Africa)
Africa: Honour your aid pledges, leaders urged Jul 8, 2008
Online Edition Powered By IOL. African leaders yesterday urged the Group of Eight (G8) rich nations to keep promises to help their continent and pleaded with them to remember that soaring oil and food prices were making their poverty worse. (Business Report, South Africa)
Prices put back clock on lifting poor - UN Jul 8, 2008
Online Edition Powered By IOL. Toyako, Japan - The international community must act immediately to ease the plight of tens of millions of people suffering under soaring global food prices, the heads of the UN and the World Bank said yesterday. (Business Report, South Africa)
M&R pursues power cut payback Jul 7, 2008
Pretoria - Murray ts (Me listed construction and engineering group, is still pursuing compensation for the "cost and time impact" it suffered because of the electricity supply problems that gripped the country earlier this year ... Murray ts (Me listed construction and engineering group, is still pursuing compensation for the "cost and time impact" it suffered because of the electricity supply problems that gripped the country earlier this year. (Business Report, South Africa)
Applied Sciences merges with Soho Engineering Jul 6, 2008
Soho Engineering is a civil and environmental engineering group in Tampa serving clients in the commercial, residential and public sectors. Terms were not disclosed. (Tampa Bay Business Journal, FL)
Balfour Beatty bucks the downturn trend Jul 3, 2008
By Peter HutchisonLast Updated: 1:09am BST 03/07/2008. Balfour Beatty, Britain's biggest construction group, has reported a strong first-half trading forecast despite a slump in the economy. (Telegraph.co.uk)
EU orders Hellenic Shipyards to pay back 230 million subsidy Jul 2, 2008
Hellenic is now owned by German engineering group ThyssenKrupp AG and will be liable to repay the state aid. Apart from building and repairing commercial vessels, the company also fixes and builds ships and submarines for the Greek navy. (International Herald Tribune -- Health)
Kill The Data Center Jul 1, 2008
I still have people in the engineering group. But if I were to really achieve 100% SaaS, I would look for [more] deskside support. (Forbes -- Technology)
Iraq sues AWB for harming its people Jul 1, 2008
Other companies named in the lawsuit include the European Bank BNP Paribus, drug-makers GlaxoSmithKline and Roche Holdings and the Swiss engineering group ABB Group. An AWB spokesman said it would "vigorously defend its position if the case proceeds". (Sydney Morning Herald -- World)
BBC testing HD for Freeview Jun 30, 2008
The BBC is taking the lead on the standard after it was approved by the European DVB engineering group in March. Justin Mitchell, leader of the DVB-T2 modem development team at the BBC, said: "We are delighted that our team in collaboration with our partners has been able to deliver such a key piece of technology in such a short timescale. "This is a big step forward in enabling the introduction of full HD terrestrial on Freeview by the end of 2009. (TechRadar.com)
Siemens plans to cut 17200 jobs worldwide Jun 29, 2008
It is the boldest move so far by Peter Lscher, the first outsider to lead Siemens in 161 years, and is designed to cut bureaucracy and make Europe's largest engineering group leaner, on the lines of GE, which earns twice as much as Siemens per employee. News of the drive to cut overheads was revealed by the Financial Times last November when it was estimated that 10,000-20,000 jobs would be lost. (Financial Times)
Siemens to cut 17,200 jobs Jun 28, 2008
MUNICH: Siemens, Europe's biggest engineering group, plans to cut 17,200 jobs worldwide, mainly among top and middle managers and in administration reported Germany newspaper Sueddeutsche Zeitung. It plans to axe about 6,450 jobs in Germany to help it reach a saving target of 1. (India Times, India)
Petra Perdana sees higher utilisation of vessels Jun 26, 2008
He added Petra Energys recent joint venture with Australias independent well engineering group Advanced Well Technologies (AWT) would see both parties providing complete solutions in sub-surface work. The groups penetration into the sub-surface activities of brown field services is a natural expansion of our business scope. (The Star Online, Malaysia -- Business)
Dollar millionaires top 10m Jun 25, 2008
As an illustration of the growing buying power of emerging markets and the shifting world order, the report cites General Dynamics, the US engineering group, which sold more Gulfstream jets to overseas buyers than in North America for the first time last year. Ferrari also experienced unprecedented sales to emerging markets. (guardian.co.uk)
End of a chapter in Malaysias corporate history Jun 25, 2008
UMW grew to be the country s largest engineering group with Chia as its chief executive. In 1987, a rescue of haulage and logistics firm Kontena Nasional gave him the added reputation of being Mr Fixit. (The Star Online, Malaysia)
Water tank project moves forward Jun 24, 2008
EADS Engineering Group, of Somerset, performed the initial evaluation and inspection of the tanks located in Davidsville and Pretoria last October and recommended they not be taken off-line despite replacements. The Pretoria water storage tank, holding 187,000 gallons, was replaced in 2007 as one of four projects using a 2,898,000 bond issue for 2005. (Somerset Daily American, PA)
CoolIT Systems Cooler for the NVIDIA GTX280 Jun 19, 2008
CoolIT also works with the AMD engineering group to provide the Reference cooling solution for the latest high performance video cards. A legendary hero gets a legendary sendoff. (IGN Gear)
Royal joy as Her Majesty honours duo Jun 19, 2008
He received the award for his work with Glasgow-based firm Jacobs Engineering Group and, yesterday, was celebrating while enjoying a well-earned holiday in America. Speaking to the Paisley Daily Express from California, Mr Masterton, 54, said: This is a fantastic honour and also came as an incredibly nice surprise. (Paisley Daily Express)
Miles Grant France Jun 17, 2008
He enlisted in the Marines as soon as he was 18 years old, amidst World War II. France was assigned to the Marines 4th Division, in an engineering group, working explosive ordinance disposal. He fought in the Pacific Island Battles of Roi-Namur and Saipan before being shot through his left chest. (Wasilla Frontiersman, AK)
Engineers oppose investment policy change being considered by CalPERS Jun 15, 2008
The engineering group plans to testify at a policy subcommittee hearing at 1 p.m. Monday. The proposal is supported by CalPERS staff. (Sacramento Business Journal, CA)
ASX: Stocks close higher Jun 6, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
NetQoS expands services to financial industry via purchase of Helium Systems Jun 3, 2008
Helium Systems' founder, president and chief architect, Alex Malone, has joined NetQoS engineering group focused on future development of the NetQoS Trade Monitor. Trade Monitor reduces exposure to market risk by providing real-time notification of latency, connection and session-level metrics to accelerate troubleshooting. (Austin Business Journal, TX)
Witness Says Siemens Ex-CFO Knew of Bribes Jun 3, 2008
Siemens, Europe's biggest engineering group, is also being investigated by the U.S. Department of Justice and the Securities and Exchange Commission, among other foreign authorities, and could be barred from bidding for certain U.S. contracts. The company has so far identified 1. (ABC News -- Wire)
South London gets first new station since World War II Jun 3, 2008
Construction of the new station has been carried out by Dean l, the business acquired by engineering group Balfour Beatty earlier this year, and has cost 6m. Mitcham Eastfields's modular design includes a building with a waiting area and ticket office made from recycled materials and designed to minimise electricity use. (Transport Briefing)
GE expects solar to be a $1 billion business soon Jun 3, 2008
GE's competitors in the energy industry include the German conglomerate Siemens, the Swiss engineering group ABB and the French industrial and power group Alstom Holdings. . (International Herald Tribune -- Business)
Alstom denies talks with Rolls-Royce Jun 2, 2008
French engineering group Alstom on Monday denied a newspaper report it was mulling a tie-up with aero engine and turbines group Rolls-Royce. "There are no discussions, no talks, nothing," a spokesman said. (International Herald Tribune)
Gamuda likely in for choppy times May 31, 2008
PETALING JAYA: Construction and engineering group Gamuda Bhd may be in for some choppy times, given the company's exposure to the property sector in Vietnam, which is facing soaring inflation, a plunging stock market and a depreciating currency. The group, through Gamuda Land Sdn Bhd, is launching the 808-acre Yen So Park, with a gross development value (GDV) of US$1bil, this year. (The Star Online, Malaysia)
Component Changes Made to Dow Jones Sector Titans Indexes May 30, 2008
Dow Jones Construction & Materials Titans 30 Index Country Company / Symbol(s) Add/Delete United States Weyerhaeuser Co. (WY) Add United States Jacobs Engineering Group Inc. (JEC) Add Japan Shimizu Corp. (1803. TO) Delete Spain Sacyr-Vallehermoso S.A. (SYV.MC) Delete The free-float market capitalization of the reconstituted Dow Jones Construction & Materials Titans 30 Index increased to US$360 billion from US$341billion. (Primezone Releases)
Taiwanese donations to quake zones top 780 mln yuan May 30, 2008
The teams contributed greatly, Yang said, adding a Taiwan engineering group arrived in Sichuan on May 27 to help rebuild homes. The 8. (Xinhuanet, China)
Referendum win broadens Ballard's horizons May 28, 2008
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Siemens defendant's evidence "started avalanche" May 28, 2008
MUNICH The defendant in the first criminal trial over suspected bribery at German engineering group Siemens AG sparked investigations that now encompass about 100 suspects, a Munich court heard. Reinhard Siekaczek, who has admitted building a system of slush funds and mailbox companies for Siemens, had rushed on his arrest to provide names of those who had allegedly known about the corrupt practices, a witness said. (Globe and Mail -- Business)
Terrace Avenue is an eyesore May 28, 2008
Future area endeavors will address taxi-loading zones, personal vehicle drop-offs and "transit amenities defining Terrace Avenue as a pedestrian terminal," according to the consultant, Principal Engineering Group of Phoenix. Rate Story. (Nogales International, AZ)
Siemens bribery case moves to trial in Germany May 26, 2008
One of the main suspects in a corruption and bribery scandal that shook the German engineering group Siemens faced trial Monday in a Munich court on charges of embezzlement ... Earlier this month prosecutors investigating suspected bribery at the engineering group said they had found no evidence to warrant criminal charges against von Pierer. (International Herald Tribune -- Business)
Suspect to stand trial in Siemens scandal May 26, 2008
One of the main suspects in a corruption and bribery scandal that shook German engineering group Siemens will stand trial on Monday at a Munich court on charges of embezzlement ... Earlier this month prosecutors investigating suspected bribery at the engineering group said they had found no evidence to warrant criminal charges against von Pierer. (International Herald Tribune)
Germany debates whether it's time for big business to raise curtain on executive pay, bonuses May 23, 2008
Among the resisters are automakers DaimlerChrysler, Volkswagen and BMW, airline Lufthansa and engineering group Siemens. Pressure for more disclosure in Germany has built up from the recent criminal trial over payouts to executives at mobile phone company Mannesmann during a merger with Britain's Vodafone. (Business Report, South Africa)
State infrastructure contracts swell listed firms' order books May 22, 2008
Listed construction and engineering group Aveng reported yesterday that its two-year contracting order book had grown by nearly one-third to R29 billion at the end of April from R22 billion at year-end. Major local infrastructural contracts won by its Grinaker-LTA subsidiary included the civil work package for the 4 500 megawatt Medupi power station in a joint venture with listed peer Murray ts (Md a contract from the SA National Roads Agency for work on the Gauteng freeway improvement project. (Business Report, South Africa)
Manitowoc raises offer for Enodis May 20, 2008
Manitowoc, the US engineering group, on Monday attempted to regain the initiative in the tussle over Enodis, the catering equipment maker, increasing its offer and asking the board to co-operate. The new bid of 294p a share values the equity at 1. (FT.com -- Markets)
Balfour Beatty nets 186 million with unexpected placing May 16, 2008
The construction and engineering group, which has recently completed a handful of ac 00004000 quisitions, raised 186 million by placing shares that increased its share capital by almost 10 per cent.. Balfour said the placing of 43. (Times Online)
Stocks race to record high, rand firmer May 16, 2008
Industrials' shares were also higher, led by construction and engineering group Murray and Roberts Holdings Ltd , which climbed 2,39% to R90. But telecom companies were lower, with fixed-line operator Telkom biggest loser on the bourse, dropping 2,33% to 128 rand. (Business Report, South Africa)
EADS returns to profit despite pressure from strong euro May 15, 2008
Airbus is, however, in talks with the British engineering group GKN over the sale of its wing factories in Filton, England, and with an unidentified bidder for its cabin-fitting plant in Laupheim, Germany. EADS said Wednesday that it expected to conclude those sales "in the next few weeks.". (International Herald Tribune -- Business)
Learn to love the red light May 15, 2008
"People who say we can't do anything about congestion are wrong. We can do lots," said Joel Marcuson, a specialist in urban intersections with the Jacobs Engineering Group Inc. in Phoenix. Right now, however, three out of four of the nation's 300,000 traffic signals need replacement or timing adjustments for optimum performance, according to the U.S. Department of Transportation. (Atlanta Journal-Constitution)
Balfour sees strong results May 15, 2008
Construction and engineering group Balfour Beatty raised 186 million pounds in a share placing on Thursday and said 2008 results should be at the top end of expectations. The placing, which Balfour said was to support growth following acquisitions, weighed on its stock which fell more than 5 percent in early trading. (International Herald Tribune -- Arts)
