News Flash: Siemens Energy Cash Crunch and Supply Chain Worries

Phil Totaro, Joel Saxum and Allen Hall discuss the latest Reuters news article regarding Siemens Gamesa shuttering sales offices and factories. What are the upcoming risks to Siemens Gamesa, and does the company have the financial resources to weather the upcoming headwinds? Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Pardalote Consulting - https://www.pardaloteconsulting.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.com News Flash 10-16-23 Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of Intelstor, Phil Totaro, and the Chief Commercial Officer of Weather Guard Lightning Tech, Joel Saxum. And this is your News Flash. Big Reuters report from Siemens Energy where they're considering shutting down some of the Siemens Gamesa factories and sales offices as part of a review aimed at reducing losses at the company. There's been a number of discussions about this across the internet over the last couple of days. The plants have not been defined yet. The sales offices have not been defined yet as what ones would likely go. However, it does put a lot of countries on end as there are a number of plants across the world that Siemens Gamesa has invested a good amount of time and money into. And although no final decisions have been made yet, we feel like and the news is from different sources that by early November or mid November, they are going to have this plant identified. And Phi, this is causing a little bit of upset in the marketplace in terms of the stock, but also in terms of the wind energy community as to where Siemens Energy and Siemens Gamesa is headed. There's a lot of moving parts at the moment. How fast does Siemens Gamesa and Siemens Energy need to move to right this ship? Philip Totaro: Fairly fast. And the reality of this is there's a few different implications. First is that they probably want to be able to announce something in November at their Capital Markets Day event so watch out for that. The second aspect of this is, okay, obviously there's a significant amount of investment in Denmark and in Spain. And unfortunately, those are likely to potentially both or, there's been talk in the past about potentially Spain might get shut down or outsourced a lot more than the resources that they have in Denmark, which was the legacy Siemens. And the legacy of the company, everything that's core to Siemens in Germany and Denmark is something I think they want to keep hold of. There are companies in Asia,