Siemens will base its new headquarters in Houston

Getty Images

Getty Images

Siemens announced with Houston Mayor Annise Parker today that it will launch its new oil and gas headquarters along the Energy Corridor.

The office will be based at West Memorial Place at 15375 Memorial Drive and will house the company’s oil and gas, power generation, and marine business units. The nearly 29,000 square feet location will be home to more than 100 employees.

The move aligns with Siemens announcement last year to expand its footprint in Houston after a deal to acquire Houston-based Dresser-Rand Group, Inc. (NYSE: DRC) for $7.6 billion. Siemens stated it also intends to keep the Dresser-Rand name and executive team intact.

Related: Shareholders approve $7.6 billion deal for Siemens to acquire Houston-based Dresser-Rand

The deal for Dresser-Rand is anticipated to close sometime this year but is being investigated by the European Commission over competitive concerns.

Currently, Dresser-Rand is laying off about 650 employees as a result of the decline in the price of oil. According to Lisa Davis, a member of Siemens board of directors, the agreement puts the organization closer to its upstream, midstream, and downstream energy customers.

Related: Falling oil prices have cost Fortune 500 energy companies billions of dollars

“Siemens’ expertise in automation, electrical systems, data analytics, and service combined with our existing portfolio, including Rolls-Royce industrial aero-derivative gas turbines, and our agreement to acquire Houston-based Dresser-Rand, fortifies our position as the most complete, end-to-end rotating equipment and process automation provider in the market today,” Davis said in a prepared statement.

Mayor Parker also recognized Siemens commitment to Houston because the company now employees nearly 2,000 workers in metropolitan Houston.

Worldwide, the company has 300 manufacturing facilities and employs more than 350,000 people.


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