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BERLIN (AFP) – German industrial giant Siemens said Thursday it will sell its electrical motors business Innomotics to private US equity firm KPS Capital Partners for EUR3.5 billion (USD3.8 billion). Innomotics, a subsidiary whose motors and other systems are used in a variety of industries including chemicals, oil, utilities and automotive, employs around 15,000 people. […]
German industrial giant Siemens said Thursday it will sell its electrical motors business Innomotics to private US equity firm KPS Capital Partners for 3.5 billion euros ($3.8 billion).
Siemens reported relatively stable revenue in its second quarter on Thursday, despite a 12% decline in comparable orders, reflecting a high volume of large orders in the mobility segment.
The technology company Siemens is sticking to its targets for the current fiscal year. I am not at all worried about the Group's forecast for the year, CFO Ralf Thomas told the Borsen-Zeitung . We...
Siemens has announced that it has transferred an 8% stake in Siemens Energy to Siemens Pension-Trust e V, a pension fund for its employees, thereby reducing its stake in the power plant manufacturer...