Posted in | News | Ceramic Materials | Plastics and Polymers | Business

Siemens Complete Sale of Plastics and Ceramics Acivities

Sep 27 2002

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Siemens has completed the sale of several of its business activities to Kohlberg Kravis Roberts & Co. The total purchase price for the businesses was 1.69 billion Euros.

The sale comprised several business units including:

  • Atecs Mannesmann Group, including Mannesmann Plastics Machinery, the gas spring producer Stabilus, Demag Cranes and Components and the harbour crane unit Gottwald
  • The Ceramics Division of its Power Generation Group
  • The metering business of its Power Transmission and Distribution Group
  • Network Systems, a regional service business belonging to its Information and Communication Networks Group

Pursuant to the agreement, these business activities were placed into a holding company called Demag Holding s.a.r.l (Luxemburg), prior to the sale. Kohlberg Kravis Roberts & Co. now own 81% of this business, with Siemens owning the 19% balance.

For more information on power transmission, click here.

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