Siemens to sell postal and parcel sorting business

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Siemens has announced it is planning to sell its postal and parcel sorting business along with its baggage handling division due to “very limited synergies with other Siemens' business owing to the high mechanical content and focus on system integration”.

"Whilst favorable market conditions, innovative strength and good profit results of Siemens' logistics activities, we are convinced that a different ownership structure taps this business's full potential," said Joerg Ernst, CEO of Siemens' Logistics and Airport Solutions Unit.

The mid-single digit profitable Siemens logistics business boasts revenue of approximately €900 million and employs around 3,600 staff, and has promising growth dynamics, in particular in parcel and baggage handling, according to the company.

The baggage handling, postal and parcel sorting activities are bundled in the business unit Logistics and Airport Solutions with its headquarters in Constance.

The core business comprises a comprehensive portfolio in the areas of mail and parcel logistics and automation, airport logistics with baggage handling, air cargo handling and IT solutions, as well as the overall customer services that supports customers with the optimisation of their daily operations.

Siemens said it is looking for the best owner that is willing to invest and probably create higher synergies for a sustainable growth perspective.