SIEMENS MECHANICAL DRIVES UNIT TO RUN AS SEPARATE COMPANY
Siemens Mechanical Drives unit (Mechanical Drives, MD) is given a new setup that will enable the business to operate more efficiently and flexibly in implementing its growth plans in a competitive environment. MD’s market, which is dominated by medium-sized companies, is currently characterized by weak growth, increasing competition from the Asian region and overcapacities, with correspondingly high price pressure. To achieve greater room to maneuver and intensify its business-specific orientation, the unit is to be managed in the future as a separate company under the Siemens umbrella. Siemens is also planning to invest in the business’s locations worldwide and product portfolio in order to ensure its continued market and technology leadership.
Mechanical Drives (MD), which belongs to Siemens’ Process Industries and Drives Division, currently has around 6,000 employees worldwide. It is a leading global supplier of components for mechanical drives systems, with offerings ranging from an extensive portfolio of drives and couplings to services. The unit serves key industries such as wind power, cement production, marine, conveyor and crane technology. Its products and services combine latest technology with extremely high quality and have been reliably guaranteeing the optimal transmission of power for decades. (Source and image: Siemens)
- TOTAL AND APACHE ANNOUNCE FOURTH DISCOVERY OFFSHORE SURINAME 14th January 2021
- PACIFIC DRILLING COMPLETES RESTRUCTURING AND EMERGES FROM CHAPTER 11 05th January 2021
- ENI AWARDED OPERATORSHIP OF ONE OF ABU DHABI’S LARGEST OFSSHORE CONCESSIONS 23rd December 2020
- RELIANCE FLOWS FIRST GAS FROM ASIA’S DEEPEST PROJECT OFF THE EAST COAST OF INDIA 21st December 2020
- ROSNEFT REPORTS UNIQUE GAS FIELD DISCOVERY IN THE KARA SEA 14th December 2020