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Siemens shakes up
Source: Agencies |
March 30, 2011, Wednesday
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INDUSTRIAL engineering company Siemens AG yesterday said it is shaking up its organizational chart, spinning off light bulb maker Osram and forging a new division that will focus on energy-efficient infrastructure projects in the world's cities.
Osram GmbH will be sold off to investors in an initial public offering later this year, said Munich-based Siemens, which makes a wide range of industrial equipment.
The company said it is also adding a fourth major division - dubbed infrastructure and cities - that will bundle the company's businesses in power distribution and transport equipment and take advantage of growth in the world's cities.
Osram GmbH will be sold off to investors in an initial public offering later this year, said Munich-based Siemens, which makes a wide range of industrial equipment.
The company said it is also adding a fourth major division - dubbed infrastructure and cities - that will bundle the company's businesses in power distribution and transport equipment and take advantage of growth in the world's cities.
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