Siemens Energy sells Trench to sharpen portfolio 

October 12, 2023
Berlin

As part of the consistent focusing of its portfolio, Siemens Energy has agreed to sell its Trench business to investment firm Triton. Both parties have agreed not to disclose the purchase price. Closing is expected, subject to approval of the authorities and necessary consultations, in the first half of 2024. The sale is also still subject to the approval of the employee representatives. Employees have already been informed about the sale in a global staff meeting. 

Earlier this year Siemens Energy began the strategic move to carve out and separately manage Trench, which specializes in high-voltage grid components including bushings, instrument transformers and coil products, sold under the brands HSP and Trench. The Trench business has a strong market position, this sale is one of many strategic decisions to sharpen Siemens Energy’s focus on its core business.

Trench has locations across Europe including Germany, Austria, France, Bulgaria and Italy with additional operational footprint in China and Canada. Once the closing has taken place, its 2,400 employees and 9 factory locations, will transfer to the new owners.

Tim Holt, member of the Managing Board for Siemens Energy: “We are positioning Siemens Energy for the future, which means sharpening our portfolio, simplifying our business and rationalizing how and where we can invest in innovation. The Trench business is a small medium enterprise with ambitious growth plans which will be best realized under different ownership. The transaction is an optimal solution for the business and crucially for the employees, as it is for the transformation of Siemens Energy.”

Contact

Danielle Turton

Press Spokesperson Grid Technologies

 

 

Siemens Energy sells Trench to sharpen portfolio
October 13, 2023
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. Its wind power subsidiary Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 94,000 people worldwide in more than 90 countries and generated revenue of €29 billion in fiscal year 2022.