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Siemens plans to spin off its Flender gears and couplings arm

11 May, 2020

Siemens has announced plans to spin off its Flender mechanical power transmission business, which it describes as “the world’s leading manufacturer of mechanical drive systems”.

The spin-off, which is part of Siemens’ programme to reorganise its portfolio of companies, will begin by integrating its wind energy generation business into Flender. Siemens says that the combined operation will be a technology leader with a global presence, a competitive cost base, an attractive service business and annual revenues of around €2bn. It will be “an important tier-1 supplier to the wind power industry,” the company adds.

Siemens then plans to list the combined company publicly via a spin-off. Its shareholders will vote on the proposed spin-off in February 2021.

Friedrich Flender AG was founded in Düsseldorf in 1899, originally making wooden pulleys. In subsequent decades, the company expanded to become a leading manufacturer of gear systems.

Siemens acquired Flender for €1.2bn in 2005, along with the Winergy brand for windpower technologies. The business – whose headquarters are in Bocholt, Germany – has a portfolio of gear systems, clutches, drive applications and services, and focuses on key industries including wind power, cement, mining, oil & gas, power generation, water and wastewater, marine, conveyors and cranes. It claims to have the world’s largest portfolio of industrial couplings.

Siemens says that Flender is the world's leading manufacturer of mechanical drive systems

Flender has around 6,500 employees, and nine manufacturing sites in Germany, France, the US, China and India.

Since 2017, Flender has operated as a separate, wholly owned subsidiary of Siemens. Suggestions that Siemens was looking to sell the business started soon after this creation of a separate company.




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