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Electronics Production | November 03, 2008

Fujitsu-Siemens exit deal seems to be done

German media reports state that Siemen's exit deal from its joint venture Fujitsu-Siemens has been signed. According to these reports, Siemen's former Japanese partner Fujitsu is to take over Siemen's 50%-stake in the joint venture.
The media reports suggest that the deal will be made public already this week. The reports also state that Fujitsu is to continue operations at the Fujitsu-Siemens facility in Augsburg, Germany - with about 2000 employees - although cutbacks are to be expected after the closure of the deal.

A report in the German magazine Focus suggests that the current Fujitsu-Siemens boss Bernd Bischoff is to leave his post and that the current CFO Kai Flore will take over.

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