Siemens to Buy Ebm-Papst's Industrial Drive Technology Business
By Mauro Orru
Siemens agreed to acquire the industrial drive technology business from family-run Ebm-Papst Group, in a deal to expand its capabilities in the field of factory automation and digitalization.
The German industrial conglomerate said Thursday that the business employs some 650 people across St. Georgen and Lauf an der Pegnitz, Germany, and in Oradea, Romania, though Siemens didn't disclose financial details.
"The acquisition will enable us to tap new business and customer potential in the rapidly growing market for intelligent, battery-powered drive solutions in intralogistics as well as mobile robot solutions," said Siemens Managing Board member Cedrik Neike.
Siemens expects to complete the transaction by mid-2025, subject to foreign trade and merger control approvals.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
March 21, 2024 06:32 ET (10:32 GMT)
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