Siemens is to acquire Flender Holding, one of the world's leading suppliers of gear systems, for 1.2 billion Euros.
With 6700 employees at 80 locations in in Germany, France, China, India and the US, and sales of 1.012 billion Euros in 2004, the Flender group designs and manufactures couplings and industrial gear units, gear motors as well as large gear sets for ships and wind power stations.
The world market for industrial drive technology has a volume of approximately 25 billion Euros, but it has yearly growth rates of around just 2.5%. Over the years, the business has moved from one replete with component suppliers, to one that is now dominated by systems suppliers who can offer a complete portfolio of products to match their customers’ requirements.
Clearly, Siemens sees the acquisition of Flender as a means to round off its drive systems lineup. Hence the Flender Holding businesses will be integrated into the Siemens Automation and Drives Group (A&D) after the deal is given the go-ahead by the relevant anti-trust authorities.
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