Adil Toubia Appointed CEO of the Siemens Oil & Gas Division

(Feb. 1, 2012) - Adil Toubia (53) will become CEO of the Oil & Gas Division of Siemens Energy. He succeeds Tom Blades, who has been appointed as a member of the Managing Board of Linde AG. Adil Toubia brings three decades of experience in this branch of industry and was most recently a partner in Energy Capital Group, a private equity investment firm in the oil and gas industry. Prior to that, he held executive positions at GCC Energy Fund and Schlumberger.

Vacon and CEI to Enter Solar PV Market in China

(Feb. 1, 2012) - As a result of the cooperation between Vacon Plc and CEI (China National Electric Apparatus Institute Co), CEI has received the Golden Sun Certificate approved by the China National Quality Certification Center (CQC) for their 200 kW solar inverter on Dec. 15, 2011. This major milestone in the cooperation between CEI and Vacon will allow CEI to participate in the bidding for the Golden Sun solar program run by the Chinese government.

ABB to Acquire Thomas & Betts

ABB and Thomas & Betts Corporation, a North American producer of low voltage products, announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9 billion. The acquisition price represents a 24 percent premium to Thomas & Betts’ closing stock price on Jan. 27, 2012 and a 35 percent premium to the volume weighted average stock price over the past 60 trading days.