Siemens, one of the largest manufacturing companies in Europe, saw its sales remain at €19 billion (about $21 billion) in the last quarter, and profits fall by 38% to €2.2 billion. Announcing the figures on Thursday, the company said the fall in profits was largely due to the fact that it had recorded a billion-euro profit in the same quarter of the previous year as a result of the rising value of its stake in Siemens Energy. The Digital Industries (DI) division, which has performed particularly
Siemens and EMS provider Hon Hai Technology Group (Foxconn) have signed a memorandum of understanding (MoU) to drive digital transformation and sustainability in smart manufacturing platforms.
GMS Inc. (GMS), a specialty building products distributor, announced on Thursday that it has signed a deal to acquire Yvon Building Supply, Inc., Yvon Insulation Corp.
ROUNDUP: Siemens confirms outlook despite weakening automation business MUNICH - Subdued demand in its automation business weighed on the technology group Siemens in the second quarter..
Siemens is restructuring its drive technology portfolio: Less than two months after acquiring the Industrial Drive Technology (IDT) division from ebm-papst, the technology group is selling its Innomotics business for large drives and certain electric motors to KPS Capital Partners.