FRANKFURT – Siemens has reclassified its Electronics Assembly Systems business as Other Operations and the business is being held for “disposal.”

According to the company’s interim report, the reclassification of the unit from Siemens’ Drive Technologies division followed a strategic review during the company’s fiscal second quarter, ended March 31.

According to Siemens’ Interim Report, units classified as Other Operations could be integrated into other Siemens segments, divested, rolled into a joint venture, or closed.

The Electronics Assembly Systems unit lost some €86 million in the second quarter, the company said, including restructuring and impairment charges. That follows a €27 million loss during the first quarter.

The results also continue the unit’s losses from last year. For the three months ended March 31, 2008, the EA unit reported revenues of €100 million and €103 million in new orders, and a loss of €10 million. For the fiscal year ended Sept. 30, EA had revenues of €432 million and a loss of €86 million.

The EA unit was “carved out” of Siemens last year. At the time, Siemens said the unit "no longer shares noteworthy synergies" with the company's core business, and that the unit would be moved into a new, separate legal entity.

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