The company also is acquiring the gas turbine and compressor business from Rolls-Royce Energy for about €950m ($1.32bn).

Under the reorganisation labelled “Siemens – Vision 2020,” the industrial giant will position its nine divisions along the “growth fields” of electrification (meaning energy), automation and digitalisation.

Within the electrification field, the company will be organised in divisions for Power and Gas, Wind Power and Renewables, Power Generation Services and Energy Management.

Lisa