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Siemens Corp

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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.
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CALIFORNIA | LOCAL
July 18, 2009 | Dan Weikel
Officials for the Los Angeles County Metropolitan Transportation Authority said Friday that they were concerned about the Iranian business connections of Siemens Corp., a potential contender for lucrative contracts to build light rail and subway cars for the agency. Siemens, which owns Siemens Transportation Systems Inc., partnered with Nokia last year to provide TCI, Iran's telecommunications company, the technology to monitor voice calls on the country's fixed and mobile telephone networks.
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BUSINESS
January 25, 2007 | From Bloomberg News
German engineering company Siemens agreed to buy software maker UGS Corp. for $3.5 billion, including debt, and separately announced plans to spin off its VDO automotive unit. Plano, Texas-based UGS, whose software is used by customers including General Motors Corp. to design cars, is owned by Bain Capital, Silver Lake Partners and Warburg Pincus.
CALIFORNIA | LOCAL
January 12, 1993
One of the nation's largest manufacturers of light rail vehicles announced Monday that it will form a partnership with two other companies in its bid to build cars for a Los Angeles County transit line. Siemens Dueway Corp. of Sacramento will team up with TRW Aerospace of Redondo Beach and AAI Corp. of Baltimore in competing for a contract to manufacture 87 cars for the Metro Green Line.
NEWS
September 24, 1998 | From Associated Press
Following Volkswagen's lead, Siemens announced plans Wednesday for a $12-million fund to compensate former slave laborers forced to work for the firm by the Nazis during World War II. The electronics giant, along with VW, is one of several German businesses under pressure from lawsuits in the United States and threats of more at home from Nazi-era victims.
BUSINESS
March 12, 2001 | Bloomberg News
Siemens, Germany's biggest engineering and electronics company, should act soon after its U.S. listing today and make acquisitions overseas as long as assets are cheap, analysts and fund managers said. The company plans to focus primarily on building its mobile phone and process-automation businesses in the U.S. It has spent $6 billion on U.S. purchases since 1998, and Siemens has said it will use the American depositary receipts to make more purchases.
BUSINESS
November 7, 2002 | From Bloomberg News
Nokia, Siemens, Ericsson and NTT DoCoMo Inc. agreed to reduce royalty payments for faster wireless technology to boost their chances of getting chosen by phone companies over San Diego-based Qualcomm Inc. The companies aim to keep royalties related to wideband code-division multiple access technology at less than 5% of the price of the equipment. That's less than companies must pay Qualcomm, which is the most significant single owner of patents for WCDMA and cdma2000, a rival technology.
BUSINESS
January 1, 1998 | Bloomberg News
Motorola Inc. and Siemens are forming a joint venture to manufacture computer chips in Dresden, Germany, the German government said. The $1.6-billion semiconductor plant will be Europe's largest. The move comes after the companies began construction last year on a U.S. plant that will make 64-bit memory chips for personal computers.
BUSINESS
June 7, 1995 | From Associated Press
IBM Corp., Siemens of Germany and Toshiba Corp. of Japan announced Tuesday that their $1-billion semiconductor research alliance has succeeded in developing an advanced computer memory chip. They said the 256-megabit chip, the product of more than two years of research, will enable engineers to design products such as far more compact and powerful computers and high-quality digital televisions.
BUSINESS
November 7, 2002 | From Bloomberg News
Nokia, Siemens, Ericsson and NTT DoCoMo Inc. agreed to reduce royalty payments for faster wireless technology to boost their chances of getting chosen by phone companies over San Diego-based Qualcomm Inc. The companies aim to keep royalties related to wideband code-division multiple access technology at less than 5% of the price of the equipment. That's less than companies must pay Qualcomm, which is the most significant single owner of patents for WCDMA and cdma2000, a rival technology.
BUSINESS
August 28, 2002 | Bloomberg News
Siemens, the fourth-largest mobile-phone maker, will cut an additional 700 jobs in its cell-phone division to reduce costs. Siemens had previously planned to cut 4,600 jobs at the unit. The Munich, Germany-based company is struggling to make its communications divisions profitable as telecommunications companies around the world slash spending on investments and demand for mobile phones decreases. Siemens' fixed-line phone networks division said Monday that it plans to cut 4,000 jobs.
BUSINESS
April 11, 2001
Handspring Inc. said William Kennard, former chairman of the Federal Communications Commission, has joined its board. . . . British telecommunications equipment maker Marconi said it plans to cut 3,000 jobs, or 5% of its global work force, as part of a companywide reorganization. Marconi said about 1,500 of the cuts would be made in Britain, but would not give further details. . . .
BUSINESS
March 12, 2001 | Bloomberg News
Siemens, Germany's biggest engineering and electronics company, should act soon after its U.S. listing today and make acquisitions overseas as long as assets are cheap, analysts and fund managers said. The company plans to focus primarily on building its mobile phone and process-automation businesses in the U.S. It has spent $6 billion on U.S. purchases since 1998, and Siemens has said it will use the American depositary receipts to make more purchases.
BUSINESS
February 23, 2001 | Reuters
Siemens said it will pay $1.5 billion in cash to buy Dallas-based Efficient Networks Inc., the largest maker of modems for high-speed Internet connections. The German engineering and electronics group said it will offer Efficient shareholders $23.50 a share, a 90% premium to the Nasdaq-listed company's Wednesday closing price of $12.38 but well below levels reached in March last year, when the shares topped $186. Efficient shares climbed $10.69, or 86%, on the news to close at $23.06 on Nasdaq.
BUSINESS
February 12, 1999
CHEAPER CHIPS: Motorola Inc., the world's No. 2 cellular phone maker, and Siemens, Germany's largest electronics and engineering company, said they have developed a machine that can cut the cost of producing computer chips by a third. The companies said the prototype machines made memory chips on silicon wafers that are 50% larger than current wafers. They expect to complete their development work in 2001.
BUSINESS
December 1, 1994 | From Times Staff and Wire Reports
Computer Makers Form Alliance: Promising to make communicating with computers even easier, International Business Machines Corp., Apple Computer Inc., AT&T Corp. and Germany's Siemens said they will standardize the transmission of voice and data across computers and telephone lines. The alliance, called Versit, will create a worldwide standard to make it easier to send data over phone lines from portable computers.
BUSINESS
November 8, 1994 | From Times Staff and Wire Reports
Siemens Unveils Ties With U.S. Firms: The company announced an alliance with Scientific Atlanta Inc. and Sun Microsystems Inc. to develop and market systems to transmit multimedia services worldwide. The alliance centers on "IMMXpress" systems that deliver data and sound and video products through cable and telephone networks. Siemens said IMMXpress is a modular system that will allow cable and phone companies to select system components that best suit their needs.
BUSINESS
November 5, 1998 | Times Wire Services
German electronics giant Siemens said it will shed its unprofitable semiconductor business and other units that account for 15% of its annual revenue in an effort to boost profit. The firm will take a $2.4-billion charge for the massive restructuring. The businesses put on the block have combined sales of $10 billion and employ 60,000 people, about 14% of Siemens' work force.
NEWS
September 24, 1998 | From Associated Press
Following Volkswagen's lead, Siemens announced plans Wednesday for a $12-million fund to compensate former slave laborers forced to work for the firm by the Nazis during World War II. The electronics giant, along with VW, is one of several German businesses under pressure from lawsuits in the United States and threats of more at home from Nazi-era victims.
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