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21 September, 2023

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Siemens large motors and drives will be reborn as Innomotics

01 March, 2023

Siemens has revealed that its new large motors and drives company will be called Innomotics and will operate as a legally separate company, with headquarters in Nuremberg, from 1 July, 2023.

Last November, Siemens announced plans to combine several businesses in its motors and drives portfolio to create the new company which will have about 14,000 employees worldwide and revenues of around €3bn.

Innomotics will is bring together Siemens activities in the areas of low- to high-voltage motors, geared motors, medium-voltage converters and motor spindles. It combines the activities previously handled by Siemens’ Large Drives Applications and Digital Industries, together with its legally separate precision motor spindles operation Weiss Spindeltechnologie and its metals processing specialist Sykatec.

The new name is said to combine “the promise of innovative power with the experience and reliability of 150 years in motor manufacturing”.

The new company’s CEO will be Michael Reichle (previously CEO of Siemens Large Drives Applications and, before that, Siemens Logistics), its CFO will be Christoph Salentin and its CTO will be Hermann Kleinod. The reorganisation is expected to be largely completed by the start of Siemens’ new fiscal year on 1 October, 2023.

Reichle says: “With its size, its broad portfolio and our highly motivated people, Innomotics will be a trailblazer in the market and capture a leading competitive position. We’ll profit from the strong growth potential driven also, in particular, by the sustainability-oriented demand for more efficient electrification and energy consumption in industry and society.

Innomotics CEO-designate Michael Reihle: new company will be “a trailblazer”

“I’m convinced that Innomotics will provide us with the optimal setup to leverage this potential,” he adds.

“We’re convinced of the new company’s future success,” says Siemens' CFO, Ralf Thomas. “The combined strengths of its individual businesses and the power to act independently will enable Innomotics to unlock significant value for its customers, leverage its growth potential and thus ensure its success going forward”

Siemens says that Innomotics will continue to collaborate closely with other Siemens businesses in future through partnerships in the areas of technology and sales, and in trade relationships.

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