• About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Non Banking Mergers & Acquisitions

Siemens will sell its logistics arm’s mail and parcel faction to Koerber AG for EUR 1.15 billion

Siemens is striving to keep a fraction of its logistics segment that fabricates specific types of machinery

Sakshi K S by Sakshi K S
February 10, 2022
in Mergers & Acquisitions, Logistics, Technology, The Global Economics, Top Stories
Reading Time: 2 mins read
0
Siemens will sell its logistics arm’s mail and parcel faction to Koerber AG for EUR 1.15 billion

Siemens will sell its logistics arm’s mail and parcel faction to Koerber AG for EUR 1.15 billion

36
SHARES
200
VIEWS
FacebookTwitterRedditWhatsAppLinkedInFacebook

A German engineering mogul, Siemens AG, agreed to wholesale its logistics arm’s mail and parcel faction to Körber AG, the most recent step in a drive to modernize its portfolio and advance more towards software.

Siemens stated that it agreed to retail the unit to Körber AG for EUR 1.15 billion (USD 1.31 billion) in an agreement estimated to end this calendar year. Hamburg-based Körber AG functions as a supply-chain tech division into which the unit that makes pieces of equipment to categorize letters and parcels will be included.

The auction arrives when firms expand logistics expenditure to handle the abrupt increase in online shopping during the pandemic. In addition, staff absenteeism owing to coronavirus outbursts at ports and categorization offices have also facilitated delivery interruptions. As a result, firms are now steering towards automation investments to inhibit the probabilities of future commotion.

The industrial-manufacturing mogul has been depriving non-core business enterprises of better focus on higher-margin, software-steered product lines. The firm also decided to sell its stake in an electric-car components manufacturer to its French joint venture collaborator Valeo SA, the firm stated in an individual statement on Wednesday.

Roland Busch, Chief Executive Officer, stated that the firm was constantly perfecting and enhancing its portfolio to reinforce Siemens as a technology-centric firm.

Siemens is striving to keep a fraction of its logistics segment that fabricates machinery for baggage management at airports, which have been knocked out by the collapse in travel owing to the COVID19 pandemic, the firm stated.

About Siemens AG

The global forerunner in electrical engineering came into existence as a humble start-up. At present, nearly 175 years later, the start-up of 10 that once functioned at Schöneberger Strasse 19 in Berlin is an international mogul that has delivered as a chief innovation and technology entity over the years.

Siemens is a German technology firm engrossed in industry, transport, infrastructure, and healthcare. From enhanced resource-competent factories, robust supply chains, shrewder buildings and grids, to cleaner and more happy transportation alongside healthcare, the firm fabricates technology with resolution adding actual worth for consumers. By compounding the real and the digital worlds, the firm sanctions its consumers to convert their industries and markets, assisting them in renovating every day for billions of people.

About Körber AG

Körber AG is an international tech conglomerate with around 10,000 employees in over 100 locations globally. In the Business Areas Digital, Supply Chain, Pharma, Tissue and Tobacco realms, the firm offers products, solutions, and services to meet the consumers’ requirements.

The Körber Group dispatched sales of EUR 1.8 billion (USD 2.06 billion) in the financial year of 2020.

Via: Short URL
Tags: German engineering mogulKorber AGlogisticsSiemens AG
Sakshi K S

Sakshi K S

Sakshi is a professional content writer engaging readers with gripping business news stories.

Related Posts

Indonesian Parliament Approves $216 Billion State Budget
Economy

Indonesian Parliament Approves $216 Billion State Budget

by Riya Thomas
September 21, 2023
Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy
Economy

Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

by The Global Economics
September 20, 2023
Toyota's Bold Move: Fusing Traditional Tactics and Cutting-Edge Technology in the EV Arena
Transportation

Toyota’s Bold Move: Fusing Traditional Tactics and Cutting-Edge Technology in the EV Arena

by Riya Thomas
September 19, 2023
China’s Trade War Expands Beyond Semiconductors
Lifestyle

China’s Trade War Expands Beyond Semiconductors 

by The Global Economics
September 19, 2023
Apple's Annual Launch Event 2023 - iPhone 15, Apple Watch Ultra 2, and More 
Technology

Apple’s Annual Launch Event 2023 – iPhone 15, Apple Watch Ultra 2, and More 

by The Global Economics
September 18, 2023
Twitter Youtube LinkedIn Soundcloud
the global economics logo

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Indonesian Parliament Approves $216 Billion State Budget

Indonesian Parliament Approves $216 Billion State Budget

September 21, 2023
Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

Changing Geopolitics of Azerbaijan & Armenia and Its Effects on the World Economy

September 20, 2023
Toyota's Bold Move: Fusing Traditional Tactics and Cutting-Edge Technology in the EV Arena

Toyota’s Bold Move: Fusing Traditional Tactics and Cutting-Edge Technology in the EV Arena

September 19, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version