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Siemens wants to outsource the heart of the group

The technology group Siemens splits and affiliated with its Oil - and Gas-division of a further business field. The group announced on Tuesday after a meeting of the Supervisory Board, should be brought to the whole business with the energy sector up to September, 2020 to the stock exchange. This should then also include the German-Spanish wind power, a subsidiary of Siemens, Gamesa, the group has been 59 percent.

The Munich-based to keep then only a minority stake in the business; the majority of the shares will be given away to the private shareholders. The model and the way to get rid of a business, is being tested at Siemens, already. Through an IPO and the issue of share certificates to the shareholders had been separated prior to six years of lighting subsidiary Osram.

Until recently, it had been speculated that Siemens could be the power plant business in a joint venture with the competitors Mitsubishi Heavy Industries. Against a model in which Siemens had a minority position in a Joint Venture kept, had mastered, however, the representatives of the employees at Siemens. "We have achieved that with the planned IPO in Germany, Corporate co-determination is retained, and Siemens is committed to jobs in Germany and Europe," said Birgit Steinborn, Chairwoman of the General works Council and Deputy Chairman of the Supervisory Board.

No self-runner on the stock exchange

in this respect, this is a solution that both sides can be dropped: The employee representatives, which have prevented a sale of the business with Thousands of employees abroad for the time being. And Siemens President and CEO Joe Kaeser, who can outsource the shaky business from the company's own balance sheet. However,: Would be the business with power plants and turbines is a self-runner for the stock market, would not have to get rid of it, Siemens is perhaps not quite in such a hurry.

The gain in the power plant business shrank in the last fiscal year, to three quarter to 377 million Euro, 6000 Jobs are to be dismantled, and that the business will ever again be as it once was, is unlikely. The energy industry is changing rapidly away from coal-fired power plants in the direction of renewable energies such as Wind and sun and from large power plants to decentralized power generation. Especially the turbines, once a reliable Bank in the industrial conglomerate from Munich, are now a discontinued model.

on Wednesday, Siemens will report to investors and analysts, as it is in the medium term with the business and its Thousands of employees. The history of the divestment of the energy business will be there but probably only part of a larger plot.

Kaeser will have a leaner core

Kaeser, a Grand strategy is just for its almost 400'000 people, and like all corporate strategies, this has a great name. It's called "Vision 2020+". It is a Vision. The Vision Kaesers looks like this: Less people in the Munich Headquarters, more decentralisation, a leaner core and more Power in the actual shops. On the way to a quasi-Holding company with operating units and strategic investments of the Chairman of the Board, has already come pretty far. The wind energy business has risen in the Spanish-German company, Siemens, Gamesa, the medical division under the name of "Healthineers" is on the stock exchange.

The Zugsparte not supposed to be with the French competitor Alstom merged, this took place, however, the approval of the EU competition Commission. Now is open, as it goes on – in conversation, a stock exchange is also here. Siemens, this 1847 in Berlin-based industry group, has become over the decades an eternal laboratory. Change the light bulbs from Osram, the memory chips from Infineon, the components from Epcos, and also Siemens cell phones. (Editorial Tamedia)

Created: 07.05.2019, 22:57 PM

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