As of 1 October, the Siemens Mechanical Drives unit (MD) will be operating in the market as Flender GmbH, a Siemens Company. Branches will also take on the new name worldwide. Earlier this year, Siemens had announced that it would be running the unit as a stand-alone company under the Siemens umbrella, to expand its leeway for action and provide a sharper, business-specific focus. The new set-up is to be completed globally by mid-2018. Says Stefan Tenbrock, CEO of Siemens Mechanical Drives. “It’s an important step in our transformation into a stand-alone firm under Siemens AG, acting as a market leader for our customers worldwide and thinking like a mid-sized company.”
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