Date: Sat, 25 May 2013 01:13:45 +0200
- Industrials Sector and Stock Analysis from Seeking Alpha
Siemens Revamps Its Industrial Business
- First, he plans to sell shares of Siemens' Osram lighting unit through an IPO this year. That should generate more than $7 billion.
- Then he intends to create a fourth division to coexist with the company's current healthcare, energy and industrial focuses. The latter, which made $49 billion in sales last year, will be split into two divisions.
- Everything to do with power distribution and transportation equipment will become a new "Infrastructure and Cities" division. And the same goes for its building technology operations, which produce building automation, fire safety and security equipment.
By Tony D'Altorio
German industrial conglomerate Siemens ADR (SI) has seen its stock price more than double in less than two years. But its CEO, Peter Loscher, still wants more, recently announcing one of the most sweeping revamps in the company's 164-year history.
The new arm will employ 81,000 people and generate approximately $23 billion in revenue.