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Siemens buys Danfoss` flow business to push its process growth

01 May, 2003

Siemens is buying Danfoss` flow division as part of its continuing expansion into the process automation sector. According to Anton Huber, an executive in Siemens Automation and Drives (A&D), the process business holds the greatest growth potential in the A&D market, with flow meters accounting for about a quarter of all process automation sales.

He adds that the Danfoss flow products complement Siemens` existing process instrumentation offerings "and close an important product and technology gap in our portfolio". The deal also improves Siemens` access to certain customers and regions.

The details of the acquisition have not been disclosed. Last year, the Danfoss Flow Division notched up sales of around €60m. It employs 450 people and has manufacturing sites in Stonehouse, UK and Norborg, Denmark, which will become the headquarters for a new business, Siemens Flow Instruments.

Danfoss president Jørgen Clausen says the disposal is intended to place his company`s innovative flow measurement technology in a market-leading position and to allow Danfoss to concentrate on what it regards as its core businesses. "We took this step," he adds, "because we are convinced that Siemens will further improve our flow business, will make jobs even more secure, and open up new career prospects for our employees."

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