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Siemens to purchase drive technology division from ebm-papst

A sign with the emblem of Siemens firm is on display outside its headquarters in Moscow, Russia, May 12, 2022

MUNICH, Germany, March 21 (mod1s) - Siemens (SIEGn.DE), opens new tab intends to purchase ebm-papst's industrial drive technology group as the German company aims to grow it factory automation business, the businesses announced on Thursday.
 
Germany-based ebm-papst, which develops electric motors and high-tech fans, wants to focus on air and heating innovation and has thus placed the division with 650 workers up for sale.
 
"It fits perfectly into the product portfolio at Siemens," ebm-papst Chief Executive Klaus Geissdoerfer told Reuters. "We are occupying a niche where Siemens has a gap," he continued.

What ebm-papst lacks is a worldwide sales organization, he added. "Siemens has strengths exactly where we have weaknesses," he remarked.
 
The two parties have agreed not to divulge the acquisition price. The acquisition is projected to conclude by mid-2025.
 
Industrial drive technology accounts for less than 10% of ebm-papst's consolidated sales of 2.54 billion euros ($2.77 billion) and is profitable, according to Geissdoerfer.

"The acquisition will enable us to tap new business and customer potential in the rapidly growing market for intelligent, battery-powered drive solutions in intralogistics as well as mobile robot solutions," said Siemens' Cedrik Neike, the executive board member responsible for digital industries.
 
($1 = 0.9181 euros)

Source: https://www.reuters.com/

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