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Siemens large motors and drives is now €3bn Innomotics biz
As of 1 July, Innomotics has become the new brand for the motors and large-drive activities previously operating under the Siemens name. Innomotics, which employs about 15,000 people globally and generates more than €3bn in revenues, is now a separately managed Siemens subsidiary in Germany, with its headquarters in Nuremberg. Operations elsewhere in the world are on track to be largely converted to the new brand by 1 October, 2023.
Innomotics brings together former Siemens activities in the areas of low- to high-voltage motors, geared motors, medium-voltage converters and motor spindles, as well as associated project and service offerings.
Innomotics will comprise the previous businesses from Siemens Large Drives Applications (LDA) and Digital Industries businesses, as well as the separately managed Siemens-owned companies Sykatec and Weiss Spindeltechnologie.
Siemens announced its plans to spin off its large motors and drives activities last November. At the time Siemens CEO, Dr Roland Busch, said: “We’re creating a powerful global player. We’re convinced that this integrated motors and large drives provider – with high value creation – will be significantly stronger and more resilient than each business would be if it operated independently.”
As part of the new set-up, Innomotics has a new logo, as well as a slogan – “Redefining reliable motion for a better tomorrow” – and a motto – “Time for a new green”.
“Our new brand stands for our aspiration of being a leading innovator in the motor and large-drive business and expresses the way we view ourselves as a company that maintains close customer proximity and has more than 150 years of history,” says Innomotics’ CEO, Michael Reichle, who was previously CEO of LDA and, before that, of Siemens Logistics. “With highly efficient, electric large-drive systems, we can replace conventional systems that are less sustainable. In this way, we can then help our customers reduce their greenhouse gas emissions – especially in areas where very high levels of carbon emissions are still being generated today.”
Innomotics plans to work closely with other Siemens businesses. This collaboration will, for instance, take the form of product partnerships in the areas of technology, development and sales, as well as within the framework of supply-and-service contracts.
Reichle sees growth potential in fields such as hydrogen production, onshore power connections for offshore platforms and ships, as well as water supply and treatment.
“With more than €3bn in revenue, we can point to impressive volume and have an ideal set-up for expanding our leading position within the field of competitors,” adds Innomotics’ CFO, Christoph Salentin.
Siemens has not said whether it plans eventually to sell off or to float the new company, which will be competing with global players such as ABB, Japan’s Nidec, Brazil’s WEG and China’s Wolong.
Innomotics activities are outlined in a brochure.
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