Siemens: EU clears joint venture

(CercleFinance.com) - The European Commission has approved the creation of a new joint venture by Beteiligungsgesellschaft Kreis Düren, Messer Industriegase, RWE Generation and Siemens, all three of which are German.


The joint venture will be active in the planning, development, construction and operation of a plant and filling stations for the production and sale of hydrogen in Jülich.

The Commission concluded that the creation of the joint venture would not give rise to any competition concerns due to its limited commercial activities.

Both RWE and Siemens shares were up over 0.5% this afternoon, pretty much in line with the index in Frankfurt.


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