{"id":370350,"date":"2020-08-28T08:32:24","date_gmt":"2020-08-28T03:02:24","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=370350"},"modified":"2020-08-28T09:17:08","modified_gmt":"2020-08-28T03:47:08","slug":"siemens-sells-mechanical-drives-business-to-siemens-ag-subsidiary","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/siemens-sells-mechanical-drives-business-to-siemens-ag-subsidiary\/","title":{"rendered":"Siemens sells mechanical drives business to Siemens AG subsidiary"},"content":{"rendered":"<p>Siemens\u2019 board of directors have approved to sell the company&#8217;s mechanical drives (MD) business to Flender Drives Private Limited, a subsidiary of Flender GmbH, which in turn is a subsidiary of Siemens AG. <\/p>\n<p>\u201cThe Board of Directors of Siemens Limited has approved the sale and transfer of its Mechanical Drives (MD) business for a consideration of Rs 440 crore,\u201d the company said. <\/p>\n<p>In a late evening statement on Wednesday, the company said the transaction is on a slump sale basis, with effect from January next year, subject to receipt of requisite statutory approvals. <\/p>\n<p>Sunil Mathur, managing director and chief executive officer for Siemens said, \u201cPotential growth in this business will require substantial Capex and moreover,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Siemens\u2019 board of directors have approved to sell the company&#8217;s mechanical drives (MD) business to Flender Drives Private Limited, a subsidiary of Flender GmbH, which in turn is a subsidiary of Siemens AG. \u201cThe Board of Directors of Siemens Limited has approved the sale and transfer of its Mechanical Drives (MD) business for a consideration of Rs 440 crore,\u201d the company said. In a late evening statement on Wednesday, the company said the transaction is on a slump sale basis, with effect from January next year, subject to receipt of requisite statutory approvals. Sunil Mathur, managing director and chief executive [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,234],"tags":[],"class_list":["post-370350","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-power-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/370350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=370350"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/370350\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=370350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=370350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=370350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}