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BUSINESS
July 19, 1985
The company reported that it is holding discussions with the West German company about forming a "business affiliation" that may include research, development and marketing of telephone network equipment. Both companies declined to provide details of the discussions, but analysts said such an alliance would provide GTE and Siemans with opportunities to enter new markets.
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BUSINESS
June 19, 2006 | From the Associated Press
Nokia Corp. of Finland and Siemens of Germany have reportedly agreed to combine their telephone equipment units in a deal valued at about $31.6 billion. Nokia would control a majority of board seats of the new company, which would be based in Finland and not trade separately, the Wall Street Journal reported Sunday on its website, citing people familiar with the deal.
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BUSINESS
August 2, 2002 | Bloomberg News
Siemens, Germany's biggest company, is considering further job reductions at its networks and mobile-phone units. The newspaper Frankfurter Allgemeine Zeitung reported that Siemens plans to shed 5,000 jobs, at least 4,000 positions at its networks unit and about 1,000 jobs at its mobile group by the end of its fiscal year in September. A Siemens spokeswoman declined to comment.
BUSINESS
November 28, 2000 | Associated Press
German electronics maker Siemens plans to restructure its U.S. operations and build sales in the company's biggest overseas market before its slated March listing on the NYSE. The news prompted Siemens shares to jump $12.50 to close at $119 in over-the-counter trading. It plans to consolidate back-office operations such as accounting and personnel management to cut costs and bundle products from its 30 U.S. subsidiaries. Sales in the United States totaled $14.
BUSINESS
October 11, 2000 | Bloomberg News
Armonk, N.Y.-based IBM Corp. said it will invest $5 billion globally to build and expand chip-making plants to meet expected demand for semiconductors. The investment, to be made over the next two to three years, includes building a chip factory in East Fishkill, N.Y., that IBM said will be the world's most technologically advanced. The $2.5-billion plant is scheduled to open in 2002. Under the program, IBM's chip plants in Essex Junction, Vt., and Yasu, Japan, will be expanded.
BUSINESS
December 9, 1999 | From Bloomberg News
Corning Inc., the No. 1 maker of the glass used in fiber-optic telecommunications networks, agreed to buy the fiber-optic cable and parts businesses of Germany's Siemens for $1.4 billion to expand in Europe and Asia. Corning is building its capacity for making fiber-optic cable, a market that is growing at 15% a year, J.P. Morgan Securities analyst Charles Willhoit said.
BUSINESS
September 29, 1999 | Bloomberg News
Tyco International Ltd., the world's top maker of electronic components, agreed to buy the electronic switches and relays unit of Siemens for $1.1 billion in cash, adding products to help it build a dominant electronics business. The unit, Siemens EC, has annual sales of about $900 million. Its relays and switches are used in everything from elevators to telecommunications devices--many of which use connectors from Tyco's AMP unit and wiring from its Raychem unit, both recent purchases.
BUSINESS
March 18, 1999 | (Reuters)
3Com Corp. and Siemens AG appointed the team that will manage a joint venture set up to make gear to handle voice calls on data and video telecommunications networks. German telephone equipment company Siemens and 3Com, the world's No. 2 maker of computer networking equipment, announced on Dec. 9 that they would invest more than $100 million in the venture. It will employ about 200 people, at least initially.
BUSINESS
March 9, 1999 | Bloomberg News
Siemens, Europe's No. 3 phone equipment maker, agreed to buy two Internet equipment companies and took a stake in a third as part of a $1-billion investment to strengthen its data-networking business. The company bought Argon Networks Inc. and Castle Networks Inc., both closely held, for an undisclosed amount and will take a stake in Moorpark-based Accelerated Networks Inc. The purchases will be folded into Unisphere Solutions Inc., an independent U.S.
BUSINESS
August 3, 1988
Siemens AG has named Horst Langer, 52, chairman and chief executive of its U.S. holding company, which has been renamed Siemens Corp. The U.S. operation was previously named Siemens Capital Corp. Hans Decker, currently president of Siemens Capital, will continue as president. The new Siemens Corp., headquartered in New York, will absorb some of the staff and functions of Siemens Research & Support.
BUSINESS
October 6, 1987
Univation agreed to buy between $3.5 million and $6 million of computer-data storage devices from Siemens Information Systems' memory products group, which is headquartered in Westlake Village. The two-year pact calls for Univation, a Milpitas, Calif.-based maker of products for local area networks that link computers and other automated office equipment, to buy from Siemens up to 3,000 disk and tape drives used to store data for such networks.
BUSINESS
July 10, 1997 | (Bloomberg News)
Santa Clara-based 3Com Corp. said it is working with Germany's Siemens on new technology that will enable employees to use their company's computer networks to make telephone calls. 3Com said it has agreed to a three-point alliance with Siemens, including cooperation aimed at producing company computer networks that can handle both voice and data, agreements on the reselling of 3Com equipment and joint development of software.
BUSINESS
December 25, 1996 | Times Staff and Wire Reports
Germany's Siemens will acquire a nearly 45% stake in the manufacturing side of Switzerland's Elektrowatt for about $820 million. CS Holding plans to sell its interest in Elektrowatt in two phases after Elektrowatt spins off its utility business to shareholders. Elektrowatt also makes building controls, security systems and electricity meters. CS Holding said last week it would sell its shares in the utility business, to be called Watt AG, to a Swiss-German consortium.
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