SIEMENS NEARS SALE OF AIRPORT UNIT TO TOYOTA’S VANDERLANDE
According to leading sources at Reuters, Siemens has chosen Toyota’s Vanderlande as a buyer for its airport logistics unit Siemens Logistics.
While the exact terms are being negotiated and the deal is still pending Siemens’ supervisory board approval, two of the sources have confirmed that both Siemens and Vanderlande are in talks but have declined to comment on the matter at this time.
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 (US $2.45 billion) in annual sales.
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. The material handling and logistics automation company is based in Veghel, Netherlands.
Once finalized, this deal is expected to mark the conclusion of Siemens’ efforts to streamline its operations, allowing the company to focus more intently on its core competencies while Vanderlande strengthens its position in the global airport logistics market.
