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Peter Körte, Chief Technology and Strategy Officer, Siemens AG, and Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd, spoke to Moneycontrol at the Siemens India Innovation Day 2023
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In an interview with Moneycontrol’s Rachita Prasad, Busch said India would be among the top three growth markets for the conglomerate. The company will continue to invest and hire more in India to increase market share.
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Siemens has acquired 99.22% (approximately) equity shares of C&S Electric Ltd ('C&S') from its promoters, for an aggregate consideration of Rs 21,000,000,000 (twenty-one thousand million) on a cash-free/ debt-free basis.
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While there was no official word from the company, reports suggested that Siemens AG was in the process of carving out its gas and power business, which had dragged its overall performance, into a separate subsidiary.
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Under a US federal law called the Foreign Corrupt Practices Act of 1977 (FCPA), it is illegal for Americans, US companies or foreign companies whose securities are listed in the United States to pay foreign officials to win business.
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The company said in a BSE filing that it has transferred and assigned its leasehold interest in the property to Whispering Heights, a JV of Reco Solis Pte Limited and K Raheja Corp Group.
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"The transaction, as part of the global realignment of healthcare business to separately manage healthcare business, will enable Siemens to increase its focus on, and capital allocation to power generation, transmission and distribution, mobility, industrial automation and smart cities segments in the country," Siemens India MD and CEO said
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The company's board will meet on March 4 to consider sale of its healthcare undertaking to a subsidiary of Siemens AG.
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Siemens's deal with CD-adapco could be announced as early as Monday, the person said, asking not to be identified because the agreement is not yet public. The two companies did not immediately respond to requests for comment.
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The denial by a spokeswoman for Montreal-based Bombardier followed a Wall Street Journal report on Wednesday that cited unnamed sources as saying that Bombardier and Siemens were in such talks.
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Siemens signed an 8 billion euro (USD 8.8 billion) deal to supply gas and wind power plants to Egypt in June, boosting a division which is struggling at home.
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In an interview with CNBC-TV18‘s Archana Shukla, Joe Kaesar, President and CEO, Siemens AG, discussed the company‘s restructuring plans, business operations and the outlook going forward.
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Siemens Ltd, a flagship company of Siemens AG, today said it has bagged a Rs 104.4 crore contract from the Bangladesh Steels Re-Rolling Mills (BSRM) to build a gas insulated switchgear substation.
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Accenture Plc said it bought certain internet protocol television (IPTV) assets from Nokia Siemens Networks to bolster its online video capabilities.
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Siemens AG was expected to sell 39.59 lakh shares via block deal at Rs 649-698 per share, reports CNBC-TV18. Siemens touched an intraday high of Rs 681 and an intraday low of Rs 672. At 09:21 hrs the share was quoting at Rs 677.80, down Rs 21.15, or 3.03%.
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At the opening ceremony for Daimler AG's USD 850 million India factory, Chairman Dieter Zetsche stepped down from the cab of a gleaming yellow 25-tonne truck with scaled-down horsepower, a stripped-back gearbox and no sign of the iconic Mercedes-Benz three-pointed star on its grille.
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In an interview to CNBC-TV18, Nikhil Kumar, joint managing director, TD Power Systems Ltd says that post Siemens AG agreement the company plans to capture a decent market share.
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Nokia Siemens, a 50:50 joint venture between mobile phone maker Nokia and engineering giant Siemens AG, is said to be exploring options to sell a controlling stake in the firm.
