Siemens (SIEGn.DE) is preparing a separation of its large drive applications (LDA) business, the German engineering and technology company said on Monday, confirming media reports. The separation of the unit, which produces heavy-duty electrical drive systems for ships, mines and rolling mills, is the first step to a divestiture, Handelsblatt reported on Monday. More than 7000 Siemens employees around the world including around 2200 in Germany will be affected by the move, Handelsblatt reported, citing sources at […]
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