Consumer technology and engineering group Siemens is to sell off some of its real estate holdings and technology subsidiaries to generate cash for expansion, the company said at a presentation for investors in New York.
Consumer technology and engineering group Siemens is to sell off some of its real estate holdings and technology subsidiaries to generate cash for expansion, the company said at a presentation for investors in New York.
Unloading assets will generate 'a major 3-digit number' in millions of euros in additional cash flow, according to the presentation document. A large proportion of the company's real estate portfolio is production sites and 'dedicated factory space' will generally remain on the balance sheets, the document said. The real estate sale will be completed before the end of December, the company said.