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  • German industrial giant Siemens said Thursday it was selling its components subsidiary Flender to US investment group Carlyle for two billion euros ($2.3 billion), as the conglomerate presses on with its drive to slim down its sprawling operations. "By selling Flender, we're successfully and rigorously continuing our strategy to become a new, focused Siemens AG," said Joe Kaeser, the chief executive of the group that produces a wide range of goods from washing machines and trains to fire detection systems. The latest divestment comes just a month after the group spun off its power division Siemens Energy. Two other divisions, medical devices arm Healthineers and lightbulb unit Osram, are already listed separately on the stock market. Siemens said original plans had been to also spin off Flender, but the offer from Carlyle meant the subsidiary would "have the opportunities it will need in the future to optimise itself to an even greater extent". Flender makes gears and generators for industries including wind power, cement or marine. hmn/dlc/spm
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  • Siemens sells components subsidiary for 2 bn euros
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