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Siemens sells part of SBS to Fujitsu Siemens
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    • MUNICH, Germany (AFP) Dec 21, 2005
     German electronics giant Siemens said on Wednesday it would sell its loss-making Product Related Services unit of Siemens Business Services (SBS) to computer-maker Fujitsu Siemens of which it owns 50 percent.

    The sale will take effect on April 1, 2006, the company said.

    It did not disclose the sale amount but said the deal formed part of its restructuring plans for the struggling information technology subsidiary.

    Siemens said Fujitsu Siemens would take over PRS' 5,000 employees worldwide.

    "At Fujitsu Siemens, PRS will be integrated as a whole and form the core of a new service unit," the company said in a statement.

    Siemens chief executive and president, Klaus Kleinfeld, said that by buying PRS, the computer manufacturer was following a trend in the IT business of offering hardware and related services from a single source.

    "SBS will now focus completely on restructuring and developing its core business," he added.

    Siemens, which runs its business year from October to September, has had a tough year, taking an 810-million-euro (947-million-dollar) hit from its loss-making mobile phone operations.

    SBS lost 690 million euros in the 2005 business year.




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