Siemens to spin off motors and drives business as Innomotics

Siemens AG is setting up a new wholly owned subsidiary called Innomotics to contain its low-voltage to high-voltage motors, geared motors, medium-voltage converters and motorized spindles. The new company will be established in Germany by July 1, 2023, with global organization by October 1.

“Siemens AG is setting up a new business to contain its current motors and drives business, covering low-voltage to high-voltage motors, geared motors, medium-voltage converters and motorized spindles.”americanmachinist.com

• 1 source
• americanmachinist.comMotors and Drives Businesses Spin Scheduled | Siemens AG | American MachinistMar 1, 2023

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