Siemens Energy likely wants to spin off its high-voltage components business.
(Photo: dpa)
Munich Siemens Energy is preparing its high-voltage components division with around 2,500 employees for a possible sale. The unit should get more autonomy in the course of a spin-off, said a spokesman. “However, no decisions have been made about further measures, we are first examining all options.” Nothing will change for the employees, customers and suppliers.
The business area includes, for example, insulators, arresters and coils for substations. The core are the activities of the company Trench Group, which Siemens took over almost 20 years ago. According to information from the Handelsblatt from industry circles, the unit recently achieved sales in the hundreds of millions.
The business is considered to be rather low-margin
The Bloomberg news agency had reported that Siemens Energy had commissioned Deutsche Bank with a sales process. According to industry circles, the market is currently being explored and there has not yet been a decision to sell. The business is solid, but shows rather low margins.