We are now integrating the businesses at top speed, said Siemens’ President and CEO, Dr Heinrich v. Pierer. With concentrated development know-how and synergies, we are creating a high-performance market leader in the growth fields of automotive electronics and eLogistics, added Dr Pierer.
In an accompanying press release the company stated that VDO and Siemens Automotive (AT) would be merged to form Siemens VDO Automotive AG, automotive suppliers of high-tech electronic systems. To prepare for this move, AT was spun off on October 1, 2000. The new company named Siemens Automotive AG will have predicted sales of some E 7 billion and about 50,000 employees worldwide.
The systems businesses of Mannesmann Dematic AG and Siemens Production and Logistics Systems AG will also be combined. The new company will have about 22,000 employees and sales of some E 5 billion.
