Siemens To Dismantle Infrastructure Business In Revamp: Report

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Siemens To Dismantle Infrastructure Business In Revamp: Report

Siemens To Dismantle Infrastructure Business In Revamp: Report
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Siemens To Dismantle Infrastructure Business In Revamp: Report

by Wochit 0:46 mins

FRANKFURT (Reuters) - German engineering group Siemens plans to dismantle its Infrastructure & Cities (I&C) division and is reviewing other businesses as part of a sweeping corporate reshuffle under new Chief Executive Joe Kaeser, a German magazine reported. I&C was only set up by Kaeser's predecessor Peter Loescher in 2011. It bundles businesses making products ranging from security systems to power distribution systems and high-speed trains and generates an annual revenue of about 17.6 billion euros ($23.7 billion). ...

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