Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2024 08 22T071625Z 2 LYNXMPEK7L06L RTROPTP 4 FRANCE INDUSTRY
2024 08 22T071625Z 2 LYNXMPEK7L06L RTROPTP 4 FRANCE INDUSTRY

Siemens picks Toyota’s Vanderlande as buyer for logistics unit, sources say


 

MUNICH (Reuters) – Siemens has chosen Toyota’s Vanderlande as a buyer for its airport logistics unit Siemens Logistics, three people familiar with the bidding process told Reuters on Thursday.

The exact terms are being negotiated and the deal is still pending Siemens’ supervisory board approval, two of the sources said.

Both Siemens and Vanderlande declined to comment on the matter.

Vanderlande, owned by Japan’s Toyota Industries since 2017, is a Dutch producer of luggage conveyor belts and parcel-sorting systems used in more than 600 airports around the world.

It employs 9,000 people and makes 2.2 billion euros ($2.45 billion) in annual sales.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Siemens Logistics is the last among the so-called “portfolio companies” that the German industrial giant has been selling since 2019 to concentrate more on its core business.

It expects proceeds in the lower three-digit million euro range from the sale, according to the company sources.

($1 = 0.8972 euros)

 

(Reporting by Alexander Huebner, writing by Andrey Sychev, editing by Rachel More)

 

Recent Post: