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(March 27, 2008) MUNICH, Germany — As part of its ongoing portfolio restructuring, Siemens will "carve out" its Electronics Assembly Systems (EA) business unit and turn it into a legally independent subsidiary of its Drive Technologies Division (DT), according to Klaus Helmrich, CEO, DT; and Güenter Lauber, EA's leader.
EA's business shares no noteworthy synergies with the other activities of DT, yet will be able to operate more flexibly and with more customer orientation as an independent unit of the business, they noted. "The purpose of the carve-out is to enable EA to respond to the needs of its Siplace customers more flexibly, with speedier processes, and with more direct access in the regions. This decision underscores Siemens's interest in positioning EA as a more reliable, stable, and secure partner for its global customers," explained Helmrich, calling the carve out a "logical next step." Siemens sees the move as preparing the Siplace team for its path to independence.
The Siplace team has completed much of its realignment successfully, added Lauber, calling the EA unit a "somewhat special member of the Siemens family." He asserts that the Siplace group will "tackle many items now that were on the agenda for the coming years, to get ready for the future and the global market."
Electronics Assembly Systems holds more than 2,000 employees and manufacturing and development sites in Munich and Bruchsal, Germany; Singapore; Shanghai, China; and Norcross, Ga. It will become a wholly owned subsidiary of the Drive Technologies Division within Siemens's Industry Sector by the end of the current fiscal year. Besides a spin-off, Siemens also is considering other options such as a joint venture with another successful company in the electronics industry.
To learn more, visit www.siplace.com.
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