Siemens is giving its mechanical drives (MD) unit a new setup, in an effort to enable the business to operate more efficiently and flexibly. In the future, the unit will be managed as a separate company under the Siemens umbrella.
MD, which belongs to Siemens’ process industries and drives division, supplies components for mechanical drives systems, with offerings ranging from an extensive portfolio of drives and couplings to services. It serves such industries as wind power, cement production, marine, and conveyor and crane technology.
According to Siemens, MD’s market, which is dominated by midsize companies, is currently characterized by weak growth, increasing competition from the Asian region and overcapacities with correspondingly high price pressure.
Siemens is also planning to invest in the business’ locations worldwide and product portfolio in order to ensure its continued growth.