View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
February 18, 1999


By CBR Staff Writer

Siemens CEO Heinrich von Pierer yesterday reaffirmed the company’s intention of seeking a public listing in the US in early 2001, the plan being to have completed its 10-point restructuring program by then. Von Pierer confirmed the US listing plan at the annual general meeting in Munich, at which he went to great lengths to emphasize how top management has become much more results-focused. He also reiterated the information published in January that the group’s revenues were up 16% in its first quarter (ended December 31), to DM28.8bn ($17bn), while net profit was up 12% at DM639m ($378m). As part of the restructuring, Siemens’ semiconductor operations are to become a separate company in mid-year, with a flotation planned for the end of this year or early 2000. Other divisions now considered non-core are also earmarked for either sale or flotation. The idea is to amass a sizable war chest for acquisitions, which, should they take place in the States, will be further supported by an eventual Siemens US listing, as that will enable part of the payment to be in stock.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.