Siemens & GE Hit Record Backlogs Amid AI Power Boom
Siemens Energy hit an all-time high backlog driven by soaring gas service orders, joining GE Vernova in marking a record-breaking quarter for the turbomachinery segment. Meanwhile, Hyosung Heavy Industries is targeting July next year for the completion of its Changwon HVDC-dedicated plant, and LS Electric secured a 180 billion won transformer order in the U.S., further strengthening Korean companies' footing in the global supply chain.
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