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Siemens India in talks with parent company on hiving off power and energy business

Updated : May 28, 2019 02:04 PM IST

Siemens India on Tuesday said it is in talks with its parent company on hiving off power and energy business and it is too soon to call on that. "This announcement has been made about two weeks ago. We are in discussions with the headquarters, the management will review the decisions over there," said Sunil Mathur, MD and CEO, Siemens India.

"Nothing is a given straightaway, we will review the scenario together with the parent on a global level here in India and what the implications are for India and then take a call,” Mathur said.

The company's plan to pick up stake in state-run Bharat Earth Movers Limited (BEML) is not off the table, Mathur added. Last year, the union cabinet had given nod to sell 26 percent stake in the company. The government holds 54.03 percent stake in the firm.

“We are looking at inorganic growth as part of our general strategy as we also review our organic growth. Nothing is off the table, everything is on the table across all our business segments. So we will see,” he added.
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