(CercleFinance.com) – Effective July 1, 2023, Innomotics became a separately managed subsidiary of Siemens in Germany. The separation of this entity is well underway globally and is expected to be substantially completed by October 1, 2023.
The operational headquarters of the new company, which employs approximately 15,000 people worldwide and generates sales of more than 3 billion euros, is in Nuremberg, Germany.
This company mainly includes activities on low to high voltage motors, geared motors and medium voltage converters.
Going forward, Innomotics will include the former corresponding businesses of the Large Drives Applications and Digital Industries units, as well as the companies Siemens Sykatec and Weiss Spindeltechnologie.
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