Electronics Production |
Siemens acquires Flender Holding GmbH
Siemens is expanding its business in industrial drive technology by acquiring German based Flender Holding GmbH, Bocholt, one of the world's leading suppliers for gear systems.
The deal was closed by Siemens and the seller, Citigroup Venture Capital Equity Partners (CVC Equity Partners), London. The purchase price amounts to 1.2 billion EUR. The transaction is subject to the approval by the responsible anti-trust authorities. The activities of Flender Holding GmbH are to be integrated into the Siemens Automation and Drives Group (A&D) as its eleventh division. The aim is to expand the Siemens drive technology portfolio by gear systems and thus continually enhance the customer benefit offered by drive solutions.
