Siemens Closes Sale of Commercial-Vehicles Business to Meritor
November 30 2022 - 9:52AM
Dow Jones News
By Pierre Bertrand
Siemens AG said Wednesday that it has closed the sale of its
commercial-vehicles business to Meritor, Inc. for an enterprise
value of around 190 million euros ($196.3 million).
The commercial-vehicles unit supplies electric-drive systems for
medium- and heavy-duty vehicles.
The sale was agreed to in May as part of the German industrial
company's push to streamline its operations.
Meritor was acquired by Cummins Inc. in August.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
November 30, 2022 09:37 ET (14:37 GMT)
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