Siemens to sell electrical motors business to KPS menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
BERLIN (AFP) – German industrial giant Siemens said Thursday it will sell its electrical motors business Innomotics to private US equity firm KPS Capital Partners for EUR3.5 billion (USD3.8 billion). Innomotics, a subsidiary whose motors and other systems are used in a variety of industries including chemicals, oil, utilities and automotive, employs around 15,000 people. […]
Siemens Stock Dips On Weak Q2 Profit, Orders; Backs FY24 View finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
German industrial giant Siemens said Thursday it will sell its electrical motors business Innomotics to private US equity firm KPS Capital Partners for 3.5 billion euros ($3.8 billion).
Siemens reported relatively stable revenue in its second quarter on Thursday, despite a 12% decline in comparable orders, reflecting a high volume of large orders in the mobility segment.