Marine Link
Saturday, October 1, 2016

Siemens Unveils Overhaul, Confirms Rolls-Royce Buy

May 6, 2014

German conglomerate Siemens (SIEMENS.NS) announced a corporate overhaul on Tuesday which will streamline the structure of the company into nine divisions, see its healthcare business managed separately, and its audiology activities publicly listed.

In a statement, the Munich-based group also confirmed it was buying the energy business of Rolls-Royce for roughly 950 million euros.

The restructuring steps are part of a new strategy to be unveiled by Chief Executive Joe Kaeser on Wednesday in Berlin. The company said the measures, which include a streamlining of human resources and communications functions, would increase productivity by 1 billion euros per year, effective from the end of fiscal 2016.

(Reporting by Noah Barkin)



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News