Siemens continues to strengthen its international operations in process automation with an all-for-cash bid for Milltronics Ltd. The Siemens industry segment is poised to expand globally in the field of automation with the take-over of Applied Automation in July 1999 and the recent bids for Moore Products in the US and Milltronics in Canada. Furthermore, Siemens A & D has acquired a majority stake in BBT, the systems integrator. Siemens Canada and Milltronics have agreed that the Siemens A & D Group will make an all-cash offer to acquire all of the outstanding common shares of Milltronics. The offer is worth some Euro 215 million.
Milltronics specialises in ultrasonic level measurement technology and will pave the way for Siemens to form an independent business unit for level monitoring in the process industry. `This acquisition will enable us to accelerate our growth, to improve our earnings and further close the gap between us and the leaders in process automation,’ stated Dr. Klaus Wucherer, A&D Group president
* Alan Wood (52), Chief Executive of Siemens plc, has been appointed Chairman of the Confederation of British Industry’s National Manufacturing Council (NMC). Established in 1992, NMC has a membership of around 40 companies from across all sectors of the manufacturing industry in the UK.