Siemens puts large engines unit on independent footing


German engineering giant Siemens is to hive off its Large Drives Applications (LDA) to give the unit increased independence but has yet to make public whether a sale is planned.

“We aim to give the unit greater independence and business freedom, so that it can better focus on its markets and customers,” a spokesman said in Munich in response to a report in the German business daily Handelsblatt on Monday.

He declined to comment on a possible sale or partnership.

The unit, which manufactures large electrical motors for mining and the chemicals industry, is based in Nuremberg. It has a staff complement in Nuremberg and in Berlin of 2,200, with a further 4,800 in the Czech Republic, United States and China.

LDA was a market leader in many segments and had progressed well over recent months, the spokesman said.

Analysts expect a decision on either selling the company or seeking partners to come only late next year.

Last year, Siemens spun off its energy unit and listed it as Siemens Energy.

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