Siemens acquires 25% stake in Coelme Group
Siemens has acquired a non-controlling minority shareholding of 25% in Coelme Group, a European manufacturer of high-voltage disconnecting switches, the company announced in a press release.
Coelme Group is an Italian-based subsidiary of Southern States LCC.
Ralf Christian, Siemens AG, CEO Energy Management Division, said: “The development and the flexibilization of the transmission grids are of greatest importance for achieving the climate targets. In this context, innovative high voltage disconnect switches remain an important portfolio.”
Coelme Group continues to operate as a standalone company, independent of Siemens.
Closing is expected to be completed in the first half of calendar year 2019.