Siemens to buy Dutch HRSG companies

Siemens plans to acquire the Dutch sister companies NEM B.V. and Nem Energy Services B.V. (NES). The companies are currently owned by HTP Capital B.V. The take-over is subject to regulatory approval by the European Commission. "Heat recovery steam generators are key components for our business and account for about 15% of the value creation in the construction of a combined-cycle power plant. This purchase enables us to expand our capacities and enhance our expertise over the long term," says Roland Fischer, CEO of the Fossil Power Generation Division within Siemens' Energy Sector.

In 2007, Siemens had already taken over the HRSG business of Balcke Dürr Austria GmbH and went on from there to engineer and build innovative heat recovery steam generators for projects such as Irsching 4. 

NEM mainly designs, engineers and sells heat recovery steam generators, whereas NES is in the associated service business. NEM and NES with headquarters in Leiden and Utrecht operate worldwide and have branches or affiliates in Egypt, Germany, Malaysia, the United Arab Emirates and the USA. Siemens has already been working together with NEM and NES for years, most recently on the Dutch Enecogen, Diemen and Hemweg projects and on the T- Power project in Belgium. 

NEM and NES with headquarters in Leiden and Utrecht operate worldwide and have branches or affiliates in Egypt, Germany, Malaysia, the United Arab Emirates and the USA. Siemens has already been working together with NEM and NES for years, most recently on the Dutch Enecogen, Diemen and Hemweg projects and on the T- Power project in Belgium. Subject to approval by the anti-trust authorities, Siemens will purchase the company NES and will take over the major part of NEM's business. Siemens expects the purchase price to be in the region of EUR170 million, but the final price will depend on the business development at NEM and NES until financial closing.