Siemens exits lighting with USD 1.4 billion sale of Osram stake
Siemens is exiting the lighting business, in which it has been involved for the better part of a century. Its remaining stake in a light manufacturer will raise over one billion for the shrinking conglomerate.
BY OLIVER SACHGAU, WILLIAM CANNY & RUTH DAVID, BLOOMBERG
Siemens AG's complete withdrawal from the lighting industry further scales back the once sprawling German conglomerate, as Chief Executive Officer Joe Kaeser offloads assets from trains to medical scanners to household equipment in rapid succession.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Siemens gets gas turbine order
For subscribers
Siemens scales down in the Port of Esbjerg
For subscribers
.jpg&w=384&q=75)
