No Signs of Near-Term Recovery at Siemens Gamesa - Siemens Energy CEO

A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio, Spain, June 20, 2017. REUTERS/Vincent West/File Photo

Siemens Energy does not yet see signs of a recovery at wind turbine maker Siemens Gamesa, its chief executive said on Monday after launching a bid for minority holdings in the struggling unit.

"There are not yet clear signs of a near-term recovery in the current setup," Siemens Energy Chief Executive Christian Bruch told analysts on a conference call.

Through the bid, Siemens Gamesa will be "supported by Siemens Energy's proven turnaround expertise", Bruch added.