Siemens
Business with large engines to be spun off
Siemens spins off its business with large motors and puts it on its own legal footing.
A company spokesperson in Munich declined to comment on whether Siemens Large Drives Applications (LDA) is being prepared for a sale or a partnership, as reported by the 'Handelsblatt' newspaper (Monday, October 18). "We want to give the business additional independence and entrepreneurial freedom so that it can focus even better on its markets and customers," he said.
The division is headquartered in Nuremberg and employs around 2,200 people there and in Berlin, as well as a further 4,800 in the Czech Republic, the USA and China. Its main products are large motors for the mining, chemical, oil and gas industries. LDA is the world market leader in many areas and has developed well in recent months, said the spokesman.
LDA belongs to Siemens ' group of 'portfolio companies', which are doing better independently. Industry circles expect that it will probably be well into next year before a decision is made on possible further steps at LDA.
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