May 13, 2003 — Two global engineering companies are joining forces to provide an unrivaled global maintenance network for the oil and gas, power, water and desalination industries.
The Industrial Applications Division of Siemens Power Generation, Germany, and the Services Division of the Glasgow-based Weir Group, have entered into a worldwide cooperation agreement.
The scope of the agreement covers joint marketing and sales activities for the maintenance of a wide range of rotating equipment, including industrial turbines, turbocompressors, pumps and technical accessories for industrial plants. In addition to this, the two companies have agreed joint utilization of their global service activities and intend to build a “healthcare network” for the oil and gas, power, water and desalination industry.
This network will initially serve customers in the United Kingdom, the Gulf region, Central Asia, Africa and Southeast Asia. The areas are well covered by service locations from either party, which will operate as a joint network. The network is expected to be up and running in the initial areas by the middle of this year. Siemens and Weir are confident that the cooperation agreement will enable the two companies to significantly increase their share of the major global rotating equipment market.
Dr. Frank Stieler, Head of the Industrial Applications Division of Siemens Power Generation, says industrial customers, especially those in the oil and gas industry, are increasingly demanding all-round maintenance solutions from a single provider:
“In cooperation with Weir, we are not only in a position to offer customers our own industrial turbines and turbocompressors, but also provide complete “healthcare solutions” for the entire train. The new agreement gives us a decisive competitive advantage in the growing service market. It is a useful supplement to the recently announced acquisition of the industrial turbines business of Alstom by Siemens Power Generation.”
Peter Syme, Divisional Managing Director of Weir Services Division, says the new joint network will be unrivaled in its ability to respond to the needs of clients: “The two companies already have an impressive track record of adding substantial value to customers operations. Together, as one-stop shop, we can provide customers with real peace of mind regarding a crucial part of their assets. Moreover, this agreement enables Weir Services to gain access to new markets and customers.”