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.
