Member access

4-Traders Homepage  >  Shares  >  Xetra  >  Siemens AG    SIE   DE0007236101

SIEMENS AG (SIE)

369
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Siemens AG : Deutsche Bahn Seeks Compensation From Siemens For Delivery Delay-Report

05/20/2012 | 07:57am US/Eastern

German railways company Deutsche Bahn AG seeks EUR45 million to EUR50 million compensation from Siemens AG (SI) for the late delivery of 16 ICE-3 trains, Bild am Sonntag says Sunday, attributing its information to industry sources.

The trains should have been in operation with Deutsche Bahn already in 2011 but Siemens would deliver eight to ten ICE-3 trains to the railways company only this year, after a one-year delay, according to Bild am Sonntag, which adds that the trains should be running in December.

Deutsche Bahn chief Ruediger Grube and Siemens Chief Peter Loescher have discussed a 17th ICE train to be delivered free of change, Bild am Sonntag says, adding that Siemens, according to railways experts, has "massive" problems with the suppliers of high-speed trains.

A Siemens spokesman told Dow Jones Newswires that he had no new information on the negotiations between Deutsche Bahn and Siemens, but either a cash penalty or a 17th train is the subject of negotiations.

A train would cost around EUR30 million, and an amount of this magnitude has already been booked since the first quarter, the spokesman said, adding it wasn't clear to him where the reported compensation figure of EUR45 million to EUR50 million came from.

Newspaper website: http://www.bild.de

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.

React to this article
Latest news on SIEMENS AG
07:48a SIEMENS : MILITARY Siemens HVAC System Maintenance Sought by U.S. Army
07:46a SIEMENS : Welcome EU Changes to Sale of Kitchen Appliances
06:01a SIEMENS : offers Western University students opportunity to learn real-world tec..
05:56a SIEMENS : finances new hospital in Turkey's healthcare public-private partnershi..
05:06a SIEMENS : Meixner named CEO of the Power and Gas Division
04:51a SIEMENS : successfully completes projects at Abu Dhabi International Airport
04:48a SIEMENS : Outer-thread models round out the Siemens ball valve range
04:20a SIEMENS : Light at end of LED streetlight tunnel for Manchester?
03/04 MEDICAL IMAGING : Investigators from Siemens Report New Data on Radiology (Intra..
03/04 SIEMENS : Researchers from Siemens Report on Findings in Obesity (Dose monitorin..
Advertisement
Chart
Duration : Period :
Siemens AG Technical Analysis Chart | SIE | DE0007236101 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF