Siemens plans to spin off energy division

The Munich-based industrial group sorted itself new: It has divided its Oil and Gassparte. It is to be used until the autumn of next year at the stock exchange. Almost one in five Siemens employees affected by the decision.

New freedom in the case of Siemens: The divisions of six new Large-scale, in the beginning of April, the group split again, in the future, to operate in a probably far more independent than the previous divisions. A day before Siemens boss Joe Kaeser unveiled at the capital market day Details of his new strategy, "Vision 2020+", have announced the future plans for the ailing division Gas & Power.

Siemens shareholders to a majority

Siemens wants to get outsource the crisis-stricken power plant division and the entire business with the energy sector up to September, 2020 to the stock exchange. The Munich-based technology group will keep only a minority stake in the business, the majority of the shares to be given away to the private shareholders. informed Siemens on Tuesday evening.

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the wind power, a subsidiary of Siemens, Gamesa, the group has, so far, 59 percent, is to be introduced in the new society, The newly formed division, Gas and Power, belong to the 80,000 of the 380,000 Siemens employees, which includes activities in the areas of Oil and Gas, conventional power generation, power transmission and the associated service business. It comes to 30 billion euros in sales. According to the same model, Siemens had separated a few years ago, the lighting subsidiary Osram.

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concentration on Digital, medical and railway technology

the spin-off and subsequent listing on the stock exchange must decide an extraordinary General meeting, expected in June 2020. Core businesses of Siemens will be the sectors of Digital Industries, as well as Smart Infrastructure. They are flanked by the listed majority stake Siemens Healthineers, as well as the railway technique, which is to be strengthened as a growth business.

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source: boerse.ard.de

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