Siemens Puts €2.2B Into Rail Automation With Invensys Buy

Law360, New York (November 28, 2012, 7:02 PM EST) -- Siemens AG on Wednesday padded its urban infrastructure division with a €2.2 billion (US$2.8 billion) deal for Invensys PLC's rail automation business, part of the German conglomerate's two-year plan to shift resources to Siemens' core industrial activities.

As part of the fat-trimming component of the €6 billion cost-savings plan, dubbed Siemens 2014, the German company is simultaneously putting its baggage handling, postal and parcel sorting segment on the auction block, according to a statement from Siemens.

"We are exiting a noncore business with limited synergy potential...
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