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November 28, 2012
11:46 EDTIVNYY, SIInvensys agrees to sell Invensys Rail to Siemens for GBP1.74B
The company said, Following a strategic review which highlighted the likely consolidation in the global rail signaling market and the limited scope to increase the size of the Invensys Rail business, we have decided to refocus the Group around our industrial software, systems and control equipment business and, accordingly, to dispose of Invensys Rail. As well as providing Shareholders with an immediate cash return, this transaction enables the Group to create a long term pension solution and therefore increased financial flexibility going forward. The agreements we have reached with the Trustee of the Invensys UK Pension Scheme for the GBP400M contribution and the GBP225M Reservoir Trust will result in the cessation of the current deficit reduction payments of GBP40M-GBP47M per annum and we anticipate that no further contributions will be payable into the Scheme." Associated with the sale, Invensys announced a proposed return of cash to shareholders of GBP625M.
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April 23, 2014
09:05 EDTSIFDA clears Siemens SOMATOM Force CT system
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April 22, 2014
06:24 EDTSISiemens, Beijing Automotive Industry form JV for electric cars, WSJ reports
Siemens and Beijing Automotive Industry Holding have formed a joint venture to make engines for hybrid and electric vehicles, reports the Wall Street Journal. The JV will begin small volume production of the electric drive trains this year with mass production starting in 2015 at a new facility in Beijing. Financial details of the transaction were not disclosed. Reference Link

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