Siemens Energy and Capital Refractories Limited have agreed that Siemens Energy will acquire 100 per cent of the shares in Capital Injection Ceramics Limited (CIC), a subsidiary of Capital Refractories.
CIC, based in the UK, is a leading manufacturer of high-performance ceramic cores designed for turbine blades for the energy and aerospace industries. Siemens Energy said that CIC will continue to operate as an independent company under the leadership of its current management.
The acquisition has received full regulatory approval from the relevant authorities. Both parties have declined to reveal the agreed purchase price.
Jörn Schmücker, Senior Vice President of Gas Services Central with Siemens Energy, said: “This acquisition secures a key element of our gas turbine supply chain and expands our blades and vanes production capacity for both new builds and our service fleet.”