Siemens Wins Contract in the Middle East

Date : 02/19/2020 @ 3:31PM
Source : Dow Jones News
Stock : Siemens AG (PK) (SIEGY)
Quote : 40.31  -2.04 (-4.82%) @ 8:14PM
Siemens (PK) share price Chart

Siemens Wins Contract in the Middle East

Siemens (PK) (USOTC:SIEGY)
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   By Giulia Petroni 

Siemens AG said Wednesday that it was awarded a contract by Arabian Drilling Co. to modernize a drilling-drives package and cooling system, to be installed on an offshore jackup rig for a costumer in the Middle East.

The German engineering conglomerate said it will design, manufacture and deliver the system based on Siemens' BlueDrive technology. It should be delivered by early 2021, the company added.

The financial details of the contract were not disclosed.


Write to Giulia Petroni at


(END) Dow Jones Newswires

February 19, 2020 10:16 ET (15:16 GMT)

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