Coelme

Siemens agreed to acquire a non-controlling 25% minority shareholding in Coelme Group, an Italian-based subsidiary of Southern States LCC that manufactures high-voltage disconnect switches. Closing is expected in the first half of 2019.

Coelme S.p.a. and S&S Power Switchgear Ltd have terminated their joint venture agreement and related agreements, effective January 12, 2018. S&S Power Switchgear Equipment Ltd is now fully controlled by S&S Power Switchgear Ltd.