22 October 12 12:01–Siemens AG (NYSE: SI; DAX: SIE) is selling its solar energy business, including in Israel, as part of its cost-saving measures, and it is already holding talks with potential buyers.
In Israel, Siemens employs scores of people at Siemens Solar Thermal Energy Ltd. (formerly Solel Solar Systems) in Beit Shemesh, and is a participant in the Ashelim thermosolar energy plant tender in the Negev. The company planned to hire hundreds of peole had it won the Ashelim tender.
“Siemens intends to focus its renewable energy activities on wind and hydro power,” the company said in a statement.
Earlier this month, Siemens announced that it intended to cut operating costs and fire employees as part of a restructuring plan, as competition in the company’s areas of business was tougher than expected…Read More>>