Siemens CEO says company will continue to make acquisitions, sell businesses
Posted by on Dec 10, 2007
MUNICH, Dec. 10, 2007 (Thomson Financial delivered by Newstex) — Siemens (NYSE:SI) AG chief executive Peter Loescher said the company will continue to make acquisitions and sell businesses in the future but added that this would not be the company’s main focus, he told Sueddeutsche Zeitung in an interview. Loescher also reiterated his discontent about Nokia (NYSE:NOK) Siemens Networks, its joint venture with Nokia, as well as Fujitsu Siemens, the company’s joint venture with Fujitsu.
‘However, we will stand by our contracts,’ Loescher said. He added that Siemens will ‘certainly’ hold on to the company’s joint venture with BSH Bosch, saying that the company ‘earns well’. cs1/cw Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.