Operating as Voith Hydro, the company says that the name change has no effect on its shareholder structure. Siemens will retain its 35% share in the Voith Hydro joint venture.
Voith and Siemens, leading manufacturers of turbines and generators for hydroelectric power, joined forces in 2000 to create the joint venture. Dr. Roland Muench, chairman of the board of Voith Hydro added: "We have been able to substantially develop our competencies within the joint venture. Today, as a full-service provider, we offer everything – from the complete solution to individual components – from our own engineering and production facilities. Voith Hydro now has a leading position worldwide as a provider of complete systems. The product range includes solutions ranging from the complete concept to individual electrical and hydraulic components, plus expert services.
