Corporate restructuring: Siemens Energy wants to spin off TI division
The Transformation of Industry business unit is to be set up as a standalone entity. The aim is to create an independent company with more flexibility and additional growth opportunities.
Siemens Energy plans to spin off its Transformation of Industry division, aiming to give it more entrepreneurial flexibility and growth opportunities. The division, which provides industrial solutions, compressors, and electrolyzers, may attract external investors and could be the subject of a capital market transaction. Siemens Energy intends to retain a significant minority stake but will "deconsolidate" the business, allowing it to focus on power generation and transmission.
The division, which employs around 17,000 people and generated €5.7 billion in revenue last year, will become a separate entity.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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