Siemens is opening a new oil & gas headquarters in Houston. Managing board member Lisa Davis, who leads Siemens’ oil and gas and power generation businesses, will be based in the new Houston office, which will also include Siemens’ oil & gas and marine business unit.
Siemens is acquiring Houston-based Dresser-Rand Group Inc. for $7.6 billion. The deal is expected to be completed later this year, although the European Union is scrutinizing the transaction to ensure that it does not reduce competition so much that prices rise. Siemens says that it intends to retain the Dresser-Rand brand name and its executive leadership team.
“Our Houston location is critical for Siemens’ long-term growth,” Davis said, “as it brings us closer to upstream, midstream, and downstream customers.”