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Siemens to Divest Electronic Assembly Group |
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Written by Mike Buetow
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Thursday, 20 March 2008 |
FRANKFURT -- Siemens AG plans to divest its Electronic Assembly Systems unit by the end of September, the company said today. The unit employs about 2,100 workers and had reported sales in the "medium three-digit million euros range," a German newspaper reported.
The unit is a leading provider of placement assembly machines. About half its employees are based in Munich.
As reported yesterday by the German media outlet Sueddeutsche Zeitung, the unit is no longer part of the
company's core business and may be either sold or merged with a peer.
"During the course of our restructuring we examined all
business units and decided this unit is no longer part of
our core business," reported Sueddeutsche Zeitung, quoting a
Siemens spokesman.
Siemens' fiscal year ends Sept. 30.
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