Siemens buys a stake in its own company
Siemens plans to buy back 11.5% or 10 billion Euro worth of its own shares in the biggest share buyback in the history of corporate Germany.
Siemens plans to buy back 11.5% or 10 billion Euro worth of its own shares in the biggest share buyback in the history of corporate Germany. Siemens plans to buy them back, using cash flow, until 2010, and then destroy them in order to push the share price up for other investors. Siemens recently sold its auto parts maker, Vereinigte DEUTA OTA (VDO) for 11.4 billion Euro in reaction to the recent movements in the share price. New chief executive Peter Löscher set more aggressive profitability targets in order to stabilize the capital markets and Löscher plans to cut 10,000 middle management jobs from the Siemens’ workforce.
For more information click here
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
- Survey Prize Winners
- CFE Edu
Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey