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Innomotics – Launch of a new
leading motors and large drives company
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.
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.
Effective
July 1, 2023, Innomotics will operate in Germany as a legally separate
company, with operational headquarters in Nuremberg. The carve-out in Germany
will be completed effective the same date. The designated management team
comprises Michael Reichle (CEO), Christoph Salentin (CFO) and Hermann Kleinod
(CTO). The global carve-out is to be largely completed by the start of the new
fiscal year on October 1, 2023.
“We’re
convinced of the new company’s future success. The combined strengths of its
individual businesses and the power to act independently will enable Innomotics
to unlock significant value for its customers, leverage its growth potential
and thus ensure its success going forward,” said Ralf P. Thomas, CFO of Siemens AG.
“With its
size, its broad portfolio and our highly motivated people, Innomotics will be a
trailblazer in the market and capture a leading competitive position. We’ll
profit from the strong growth potential driven also, in particular, by the
sustainability-oriented demand for more efficient electrification and energy
consumption in industry and society. I’m convinced that Innomotics will provide
us with the optimal setup to leverage this potential,” said Michael Reichle,
designated CEO of Innomotics.
Motors and
electrical drive systems are Innomotics’ business and passion. The name Innomotics
combines the promise of innovative power with the experience and reliability of
150 years in motor manufacturing.
In the
future, Innomotics will continue to collaborate closely with other Siemens
businesses through partnerships in the areas of technology and sales and in
trade relationships.
Innomotics – Launch of a new leading motors and large drives company
Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.
In fiscal 2022, which ended on September 30, 2022, the Siemens Group generated revenue of €72.0 billion and net income of €4.4 billion. As of September 30, 2022, the company had around 311,000 employees worldwide. Further information is available on the Internet at www.siemens.com.