- Sale for price of €2.025 billion
- Another step in executing Vision
2020+ strategy for becoming a focused technology company
- New ownership structure offers Flender
optimal growth and development opportunities
- Long-term and reliable commitments agreed
upon for Flender’s employees and German locations
The Managing
Board and Supervisory Board of Siemens AG have approved the sale of Flender GmbH
– a world-leading supplier of mechanical and electrical drive systems – to Carlyle.
The contracting parties signed a corresponding agreement today. The price is €2.025 billion (enterprise value). Siemens
recently gave its energy business independence through a public listing. By
selling Flender, the company is now promptly taking another important step in
the rigorous execution of its Vision 2020+ strategy for enabling Siemens
to become a focused technology company. Carlyle’s plans – following Flender’s successful
reorientation – are to further accelerate its growth and fully develop its
strengths through more independence and greater leeway for decisions. The sale also
makes it possible to forgo the originally planned spin-off and public listing
and thus offers a faster track to clarity for a successful future of Flender. The
transaction is expected to close in the first half of 2021 and is subject to
foreign-investment and antitrust approvals.
The
historical Siemensstadt will be transformed into a new working and living
environment. With Siemensstadt2, Siemens is planning to implement the largest
development project in its history.
- Jury’s decision for design by Berlin firm unanimous
- Clear urban development concept and new high-rise structure in center of Siemensstadt
- Historic location to be successfully transformed for the future
Siemens and the State of Berlin invited 18 architecture firms and urban planning teams to participate in the competition to redesign Siemensstadt (“Siemens City”), the company’s historic location in Berlin. After two days evaluating their proposals, the high-caliber jury has now reached a decision: “Siemensstadt 2.0 will be implemented on the basis of a design submitted by the Berlin firm Ortner & Ortner Baukunst,” said Stefan Behnisch, the distinguished architect who chaired the jury’s deliberations. “In the jury’s view, this design will provide a solid basis for the structure of the future Siemensstadt. It’s not the complete picture. It leaves room for necessary developments. It’s a design that treats the historical buildings with respect while enabling their up-to-date utilization. The design fulfills virtually all today’s requirements, but also leaves room for the future development of a new, modern city where people can both work and live,” he added.