Wind turbine maker Siemens Gamesa exits Madrid stock market after 22 years, the parent company Siemens Energy takes the company private.
Siemens Energy, which used to own two-thirds of Siemens Gamesa, last year offered to buy all the shares in the business it didn’t already own in a 4.05 billion-euro bid – as of 06.02.23, it secured 97.59% of Siemens Gamesa stock.
In the last couple of years, Siemens Gamesa’s performance against the general market trend and in particular it underperformed very much against is peer group competitors. The main reason behind this negative performance were repetitive quality issues the Spanish subsidiary was not able to fix – after all, the alternative energy business is a high technology business and as it looks like not everybody can compete in there since this is the second major industrial failure in the Spanish alternative energy business.