Siemens to Carve out Traffic-Systems Business
12 Noviembre 2020 - 03:46AM
Noticias Dow Jones
By Kim Richters
Siemens AG plans to split its traffic business Intelligent
Traffic Systems from the mobility unit, creating a separately
managed company.
The German engineering company hopes to complete the carve-out
by the end of fiscal year 2021, Deputy Chief Executive Roland Busch
said Thursday at a press conference for annual results.
The business operates in an environment with "mainly
medium-sized competitors with flexible structures and low-cost
positions" and needs greater freedom to compete long-term, he
said.
"As a separate company with a clear focus, ITS can better pursue
its growth strategy, shape digitalization in its industry and
actively drive market consolidation," Mr. Busch said.
Intelligent Traffic Systems has annual revenue of around 600
million euros ($706.6 million) and around 600 cities as customers.
It provides mobility solutions for roads and urban areas.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
November 12, 2020 04:31 ET (09:31 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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