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April 24, 1997updated 05 Sep 2016 12:51pm


By CBR Staff Writer

Desperate to shake off the image of worthy but stodgy underachiever, Siemens AG yesterday had to accompany its first half figures to March 31 yesterday with a repeat of its warning that profit would be flat this year – but it is doing something about it. It now plans to divest or dump into joint ventures more of its more non-core and underperforming businesses over the next year or so than it had expected only two months ago. It is now taking of businesses with annual sales totaling about $3.2bn, up from the earlier target of $1.75bn. That rules out all of Siemens Nixdorf Informationssysteme AG for now, although more bits could be sold, as was the high-speed printer arm. And the unit remains under notice that the numbers have got to come out a lot better, or joint venture looms.

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