FRANKFURT, May 24 (Reuters) - Siemens Energy on
Tuesday said it would reduce management posts by about a third
and provide investors with more detail of its business in a bid
to become more transparent and nimble.
The company, which on Saturday announced a 4.05 billion-euro
($4.32 billion) bid for the remaining stake in wind turbine unit
Siemens Gamesa, said no layoffs were planned as part
of the move.
"Technology is important, but alone it is insufficient. More
and more, it will be essential to be able to act quickly and to
be close to the customer," CEO Christian Bruch said. "We want to
be faster, more flexible, and more customer-oriented."
Siemens Energy said that it would split its gas and power
segment into three business areas - gas services, grid
technologies and transformation of industry - to let investors
better track development of those individual units.
The new reporting structure will become effective from
October, when Siemens Energy's next fiscal year starts.
Gas services, which will comprise the business with large
gas turbines of up to 600 megawatts and related services, aims
for a mid-term adjusted core profit (EBITA) before special items
of 10-12%, up from a pro-forma margin of 7% last year.
Grid technologies, which deals with Siemens Energy's power
transmission equipment, targets mid-term margins of 8%-10%, up
from a pro-forma 6.5% margin.
($1 = 0.9379 euros)
(Reporting by Christoph Steitz; editing by Miranda Murray and
Jason Neely)