SIEGY - Siemens wins Euro1.5B high-speed train order from Deutsche Bahn

Siemens (OTCPK:SIEGY) said it received an order for 43 high-speed trains from Germany's national railway operator in a deal worth ~€1.5B ($1.69B). The contract for the ICE 3neo trains adds to Deutsche Bahn's 2020 order of 30 trains of the same model, expanding the operator's fleet to 73 trains. Deutsche Bahn said the first ICE 3neo trains will enter service at the end of this year, traveling between the densely populated North Rhine-Westphalia region in the northwest and Germany's south. While Siemens performs well for a conglomerate, it likely will lag pure-play competitors such as ANSYS, Autodesk, ABB and Schneider Electric, Deep Value Ideas writes in an analysis published on Seeking Alpha.

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Siemens wins €1.5B high-speed train order from Deutsche Bahn