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Siemens denies breakup plans
Siemens AG scrambled to deny a report this week in the Financial Times German edition that the company is planning “a radical restructuring.” The article implied that Siemens might sell several divisions, including its medical technology
Siemens AG scrambled to deny a report this week in the Financial Times German edition that the company is planning a radical restructuring. The article implied that Siemens might sell several divisions, including its medical technology business, in order to focus on information technology and communications.
In a press release issued by Siemens corporate headquarters in Erlangen, the company said statements attributed to CFO Heinz-Joachim Neubùrger were distorted and that a radical restructuring is not in the works. Specifically, Siemens said divestment of its energy, transportation, and healthcare segments was not being considered. In fact, healthcare is the companys fifth-most-profitable business segment, according to Joe Camaratta, VP of marketing for Siemens Medical Systems in Iselin, NJ.
