MUNICH, Oct. 1 -- The assembly equipment arm of Siemens AG will change its name to Siemens Logistics and Assembly Systems Inc., effective this month. 

In a press statement, Siemens said the new name better describes its business of supplying supply-chain wide solutions. The group was formerly known as Siemens Dematic, the result of the company's acquistion of Dematic.

The move means greater cost benefits and increased efficiencies for customers, Siemens said.

The integration will be approved by Siemens' board this month.

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