German company with local presence restructures, acquires new business

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The company, which focuses on electrification, automation and digitalization, said its industrial profit rose 2 percent to 2.21 billion euros — $2.6 billion — in the three months to the end of June. Siemens Corp. is a U.S. subsidiary of Germany-headquartered Siemens AG. In Ohio, the company employs more than 2,000 employees.

“We’ve worked very hard over the past four years. Today, nearly all our businesses are significantly more profitable, customer satisfaction is at a record high, and our Digital Factory is the market leader in industrial digitalization,” said Joe Kaeser, president and CEO of Siemens AG.

The new structure will go into effect at the start of the new fiscal year on Oct. 1. Implementation will proceed step-by-step and is to be completed by March 31, 2019, the company announced.

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Siemens also acquired Boston-based software firm Mendix for $700 million. The transaction, which is subject to regulatory approval, is expected to close in the first quarter of fiscal 2019. “Mendix is a leader and pioneer in the area of so-called low-code application development platforms. “Mendix technology makes it possible, among other things, to program and deploy apps up to ten times faster. Due to its speed, this technology will allow MindSphere customers to develop their own apps considerably faster and at significantly lower cost,” according to Siemens.

The company is investing in its digitalization business. Siemens opened its first facility in the U.S. dedicated to industrial personal computer production in Lebanon, Ohio in 2016. IPCs are industrially hardened computers made for manufacturing environments like automotive factories and refineries. The “workhorse” machines provide productivity to plant floors and manufacturing systems.

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