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.
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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.
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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 Turbo machinery 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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