Siemens: sells commercial vehicle business
(CercleFinance.com) - Siemens has announced an agreement with Meritor to sell its commercial vehicle business, constituting another step in the rigorous implementation of its previously announced plan to refine its portfolio as a focused technology company.
The deal has been agreed at a price of about 190 million euros (enterprise value), subject to WCR adjustments. Subject to regulatory approvals, it is expected to be completed by the end of 2022.
Siemens' commercial vehicle business has approximately 200 employees. It develops, designs and produces high-performance electric drive systems for buses, trucks, construction and off-road vehicles.
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The deal has been agreed at a price of about 190 million euros (enterprise value), subject to WCR adjustments. Subject to regulatory approvals, it is expected to be completed by the end of 2022.
Siemens' commercial vehicle business has approximately 200 employees. It develops, designs and produces high-performance electric drive systems for buses, trucks, construction and off-road vehicles.
Copyright (c) 2022 CercleFinance.com. All rights reserved.