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June 3, 2014
09:37 EDTSISiemens no longer to sell baggage handling, parcel and postal sorting business
Siemens announced that it no longer intends to sell its baggage handling and parcel and postal sorting activities. The activities are to be further operated as a separate business under the Siemens umbrella. The carve-out of the baggage handling and parcel and postal sorting activities as a separate company is to take place in the coming months. "The move will give the activities the flexibility they need for their business. Siemens will provide the company with a solid financial basis so that it can further develop and expand its product portfolio," the company said. Michael Reichle, who is currently CEO of the Locomotives and Components Business Unit of the Infrastructure & Cities Sector, will head the baggage handling and parcel and postal sorting business, effective July 1.
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