- Innomotics, a leading supplier of
motor and large-drive systems, has launched with a new brand identity
- As of July 1, 2023, Innomotics has
become a separately managed Siemens subsidiary in Germany
- Global carveout is on track and is to
be largely completed by October 1, 2023
- Operating headquarters are in
Nuremberg, Germany, for the new company, which employs about 15,000 people
globally and generates more than €3 billion in revenue
Innomotics has
launched in Germany as a separately managed legal entity as of July 1,
2023. Under a single roof, the supplier of motors and large drives brings together
business activities with low- to high-voltage motors, geared motors,
medium-voltage converters and motor spindles as well as project and service
offerings for this product portfolio. The company’s operating headquarters are
located in Nuremberg, Germany. The carveout in Germany has now been completed. The
global carveout is also to be largely completed by the beginning of the new
fiscal year on October 1, 2023. In the future, Innomotics will comprise the previous
corresponding businesses from the units Large Drives Applications and Digital
Industries, as well as the separately managed Siemens companies Sykatec and
Weiss Spindeltechnologie. Worldwide, around 15,000 people are working at
Innomotics to realize growth potential and thus secure the company’s future market
success as a trailblazing specialist for motors and large drives.
-
End-to-end
portfolio of low- to high-voltage motors, geared motors, medium-voltage
converters and motor spindles
- Operational
headquarters in Nuremberg, Germany, with around 14,000 employees worldwide and
revenue of approximately €3 billion
- Effective
July 1, 2023, Innomotics will operate in Germany as a legally separate,
wholly owned subsidiary of Siemens AG. The global carve-out is on track; to
be largely completed by October 1, 2023
- Innomotics’
management team will comprise Michael Reichle (CEO), Christoph Salentin (CFO)
and Hermann Kleinod (CTO)
A new, leading
motors and large drives company will be called Innomotics. Under this name,
Siemens is combining its business activities in the areas of low- to
high-voltage motors, geared motors, medium-voltage converters and motor
spindles. The portfolio includes an innovative solutions and digitalization
portfolio and a broad range of service offerings. The related businesses were
previously assigned to the units Large Drives Applications and Digital
Industries and to the legally separate Siemens companies Sykatec and Weiss
Spindeltechnologie.
The sale of Siemens
Commercial Vehicles business to Meritor closed successfully on November 30.
In May 2022, Siemens had announced the contract signing to sell Commercial
Vehicles business to Meritor, Inc. for a purchase price of around €190 million
(Enterprise Value).
- New innovation hub for research at Siemens in Garching, Germany
- Joint research facility with Technical University of Munich in Garching’s “Isar Valley”
- Modern and open work environments in a digitally planned, sustainable building
Just nine months after construction began, a
topping-out ceremony is being celebrated for the new Siemens Technology Center
at the research campus in the university town of Garching, Germany, near
Munich. As a result, this new building – which was planned digitally and is
being built to meet stringent sustainability requirements – has thus now
reached an important milestone on the journey to Siemens’ future research activities in the
Munich area. With its modern work environments, this facility will serve as an
innovation hub that provides space for inspiration and new ideas. At this center,
more than 450 researchers from Siemens’ “Technology” unit will collaborate on
technologies of the future with around 150 employees and students from the
Technical University of Munich (TUM).
- Siemens completes sale of mail and
parcel business to Körber
- Further step in simplifying Siemens’
portfolio achieved
The sale of
Siemens Logistics’ mail and parcel business to the Körber Group closed
successfully on July 1. In February 2022, Siemens had announced the
contract signing for the sale of the mail and parcel business to the Körber
Group for €1.15 billion (enterprise value).
Divestment of Commercial Vehicles
business to Meritor agreed
Purchase price (Enterprise value) of
around €190 million
Transaction expected to close by end
of this calendar year
Further successful milestone of
value creation for Siemens’ Portfolio Companies
Siemens has
agreed to sell its Commercial Vehicles business to Meritor. The move is another
step in the company’s rigorous implementation of its previously announced plan
to sharpen its portfolio as a focused technology company. Commercial Vehicles is
part of Siemens’ Portfolio Companies. The purchase price totals around €190
million, subject to working capital adjustments. Closing is expected, subject
to regulatory approvals, by the end of this calendar year.
- Profit impact of around 300 million Euros in Q2 FY22
- Closing expected in July 2022
- Single ownership of Valeo provides strong prospects for joint
venture
- Another successful milestone for Siemens Portfolio Companies
Siemens AG has signed an agreement to sell
its 50 percent stake in the Valeo Siemens e-Automotive (VSeA) joint venture to
Valeo. The positive profit impact of around 300 million Euros will be recorded
in the second quarter of fiscal 2022 and closing is expected in July 2022,
subject to regulatory approvals.
- Siemens further sharpens its
portfolio as a focused technology company
- Purchase price of €1.15 billion,
closing expected in current calendar year
- Sale to international technology
group Körber agreed
- Mail and parcel business ideal
expansion of Körber’s portfolio, supplementing its existing Business Area Supply
Chain
- Airport logistics business to remain
part of Siemens’ Portfolio Companies
Siemens has reached
an agreement to sell the mail and parcel business of Siemens Logistics GmbH to
the Körber Group. With this transaction, approved by the Managing and
Supervisory Boards of Siemens AG, Siemens is further implementing the rigorous
sharpening of its portfolio as a focused technology company. The purchase price
totals €1.15 billion (enterprise value). Closing is expected in the course of
the current calendar year, subject to regulatory approvals. Körber is a
world-leading technology company whose Business Area Supply Chain has grown
successfully in recent years, making the company a long-term, strategic new
owner for the mail and parcel business.
- The Carlyle Group is Flender
GmbH’s new owner
- Completion of another step
in executing Vision 2020+ strategy for enabling Siemens to become a focused
technology company
Siemens has successfully
closed the sale of Flender GmbH to The Carlyle Group for €2.025 billion
(enterprise value). In October 2020, Siemens announced its plans to sell the specialized
supplier of mechanical and electrical drive systems to Carlyle. Now that the relevant
authorities have granted the required approvals, the transaction has closed. As
previously announced, the sale of Flender results in a disposal gain of a euro
amount in the mid-triple-digit millions for Siemens AG.