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SMT & Inspection | March 20, 2008

Siemens plans to sell off Siplace unit

Siemens CEO Peter Loescher said the company's restructuring programme is only 50% completed, according to an interview with the FAZ. The company now plans to divest its unit Electronics Assembly Systems.
During the course of our restructuring we examined all business units and decided that this unit is no longer part of our core business,' the spokesman told another German newspaper.

The segment employs over 1200 staff members worldwide, half of them are however located in the company's Munich facility, FAZ reports. It is not yet clear whether Siemens will sell the unit at the end of their fiscal year in September or merge it with a peer.
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January 17 2019 2:20 pm V11.11.0-2