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Siemens has announced that it plans to integrate its wind business with its mechanical drive unit Flender and spin-off the merged entity. The company has developed a two-stage strategy to create the a system supplier for the wind industry.
First, the wind energy generation business, which produces generators and components for direct drive turbines, will be integrated with Flender to create a business unit with around 8500 employees and revenue of around € 2 billion. Secondly Siemens plans to publicly list Flender by spinning off the company. Shareholders will vote on the proposal at an annual meeting in February 2021, said Siemens.
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