Siemens sells parts of its water business to AEA Investors
- As previously announced, Siemens is focusing its water business on automation and drive solutions for industry and municipalities
- The Siemens Water Technologies Business Unit, which offers solutions for the treatment and processing of water and wastewater, is sold to AEA Investors LP, New York, USA, for 640 million Euro
Siemens is selling parts of its water business to funds managed by AEA Investors LP and - as previously announced - focusing its water-related activities on automation and drive solutions for the operation of water and sewage treatment plants and seawater desalination plants. AEA Investors LP is acquiring the solutions for treating and processing municipal and industrial water and wastewater that are bundled in the Siemens Water Technologies Business Unit, as well as the related service activities, for around 640 million Euro. The transaction is still subject to regulatory approval.
"In AEA, we're pleased to have found a buyer with experience in industrial investments who wants to continue to drive Water Technologies' business and cultivate existing customer relationships. At Siemens, we will in the future be focusing our water business on solutions in line with our electro technical core competencies in automation and drive technologies," said Siegfried Russwurm, member of Siemens' Managing Board and CEO of the company's Industry Sector.
Last November, Siemens decided to reorganize its activities in the water business and focus on solutions for the control and management of municipal and industrial water applications. The company's water applications for the Energy Sector's oil and gas business will also remain unchanged. There are major synergies for these solutions as well as promising growth potential within Siemens' Environmental Portfolio. The solutions are used, for example, by municipal sewage and water treatment facilities as well as by industrial companies in a wide range of segments - including car making, mining, chemicals, electronics manufacturing, oil and gas, and the production of food, beverages and pharmaceuticals.
However, there are very few synergies between the offerings of Siemens Water Technologies and the rest of the company's industry portfolio, since expertise in water treatment is found primarily in specialist fields of chemistry. In addition, the largest part of the business is geared to North American standards. Siemens Water Technologies has around 4,000 employees, three-quarters of whom are in North America.
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