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Siemens Energy performed extensive due diligence before fully acquiring its wind turbine subsidiary Siemens Gamesa, its CEO Christian Bruch stated, saying that they did not expect serious quality problems at the company, Reuters reported on Monday.
Siemens Energy’s management chose to proceed with a €4 billion offer, which turned out to be a mistake due to defective parts. Relying on a “solid information foundation,” Bruch informed the shareholders at the group’s yearly meeting.
