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| Name | Symbol | Market | Type |
|---|---|---|---|
| Siemens AG (PK) | USOTC:SIEGY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.22 | -1.28% | 93.964 | 93.91 | 94.12 | 95.01 | 93.85 | 94.64 | 38,709 | 17:12:04 |
From Apr 2019 to Apr 2024
By Friedrich Geiger
FRANKFURT--Siemens AG (SIE.XE) and Russian Machines Corp. agreed Friday to establish a joint venture with the aim of building trains for Moscow's metro, the German industrial conglomerate said.
Siemens and the Russian engineering group want to bid as joint partners for a Moscow metro contract. The Russian capital wants to purchase more than 2,000 cars to modernize its metro fleet.
The joint venture, in which both partners will invest a total of 160 million euros ($217.8 million), is to be based in the region of Moscow and will employ up to 800 people. The metro contract is likely to be awarded to a bidder that produces locally, said Siemens.
Write to Friedrich Geiger at friedrich.geiger@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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