Siemens to divest Parcel/Postal Sorting Activities
Below is an excerpt from the Press Release distributed by Siemens AG regarding the sale of its baggage handling, postal and parcel sorting business.
Siemens plans to sell its baggage handling, postal and parcel sorting business. While the company holds leading market positions in his business with a global presence and an installed base around the world, there are very limited synergies with other Siemens business due to the high mechanical content and focus on system integration. “Whilst favorable market conditions, innovative strength and good profit results of Siemens’ logistics activities, we are convinced, that a different ownership structure taps this business’s full potential,” said Joerg Ernst, CEO of Siemens’ Logistics and Airport Solutions Unit.