|Mergers and acquisitions
between tier 1 companies are prominent in turbine oil and turbine industry. Tier 1 companies such as Siemens AG, MAN Diesel & Turbo SE, Eastman Chemical Company, General Electric Company and many more relished first-mover advantages by these mergers and acquisitions, for enhancing their power in the turbine oil and turbine market
by gaining market share and obtaining economies of scale.. Some notable mergers and acquisitions are described below-
Eastman Chemical Company acquired BP’s global aviation turbine oil business and renamed all the turbo oil products under the Eastman Turbo oil brand name. The manufacturing facilities, product formulations and product packaging remain the same to eradicate customer confusion and also reassure current and potential customers that these products are quite the same which they have trusted for years.
Rolls-Royce Energy’s aero-derivative gas turbines have a compact, weight-optimized construction with high output ability which makes it an attractive power supply preference in the oil and gas industry mainly in off-shore oil platforms where space is limited. Due to their efficiency and fast-starting capabilities, they are also preferred in decentralized power generation industry as well. Recently, Siemens AG acquired the Rolls-Royce Energy gas turbine and compressor business and fortifies its position in power generation as well as oil and gas industry. According to this 25 year duration agreement, Siemens will have access to the upcoming aero-turbine technology innovation with supply and engineering services of Rolls-Royce.
MAN Diesel & Turbo a wholly owned subsidiary of MAN SE acquired steam turbine business of Indian company, MaxWatt Turbines Pvt. Ltd. and strengthen its position in power generation industry. After the acquisition, Max Watt Turbines will be part of Turbo business and the new entity will be established under the name MAN Turbomachinery India Pvt. Ltd.
European Commission gave authorization to US-based General Electric Company to acquire France- based Alstom’s energy business which shows that Europe is open for business, advanced technology advancement and can also attract foreign investment which will be fruitful for the expansion of turbine industry and affiliated industries through successful mergers and acquisitions.
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