Coal, Gas

EU approves Sequa-Siemens turbine servicing JV

4 March 2003 – The European Commission on Monday approved plans by Germany’s Siemens AG for a joint venture with Sequa Corp of the United States to provide power generation services.

The Commission said in a statement the joint venture included three operating companies to handle component repair and field service of industrial gas turbine engines used for power generation.

The transaction was approved under the Commission’s simplified procedure, used when neither customers nor rivals have complaints about a deal.