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Siemens prepares separation of large drive business

The separation of the unit, which produces heavy-duty electrical drive systems for ships, mines and rolling mills, is the first step to a divestiture, Handelsblatt reported on Monday.

October 18, 2021 / 01:42 PM IST
Rank: 22 | Siemens Headcount in India: 9437 | Top India locations: Bengaluru Area, Mumbai Area, New Delhi Area | Most common skills: Software Development, C++ | In-demand jobs: Engineering, Information Technology, Business Development

Rank: 22 | Siemens Headcount in India: 9437 | Top India locations: Bengaluru Area, Mumbai Area, New Delhi Area | Most common skills: Software Development, C++ | In-demand jobs: Engineering, Information Technology, Business Development

Siemens is preparing a separation of its large drive applications (LDA) business, the German engineering and technology company said on Monday, confirming media reports.

The separation of the unit, which produces heavy-duty electrical drive systems for ships, mines and rolling mills, is the first step to a divestiture, Handelsblatt reported on Monday.

More than 7000 Siemens employees around the world including around 2200 in Germany will be affected by the move, Handelsblatt reported, citing sources at the company.

The unit is part of Siemens’ so-called portfolio businesses – operations which the company wants to either improve or sell off in the future.