Siemens says buys Czech Republic's OEZ

19.02.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

German engineering conglomerate Siemens said on Monday it had acquired Czech firm OEZ, a maker of low-voltage controls and electrical ...

...installation technology.

Siemens Automation and Drives signed an agreement to buy a majority of shares in the Letohrad-based company, Siemens said in a statement.

OEZ has 1,300 employees and had sales of 41 million euros ($53.9 million) in 2005, Siemens said, adding that the two companies had agreed not to disclose financial details of the deal.

"OEZ is the market leader in the Czech Republic and Slovakia for low-voltage controls and distribution and electrical installation technology and is active in branches in Russia, Poland and the Ukraine in Eastern Europe," Siemens said.

[FRANKFURT/Reuters/Finance.cz]

Autor článku

 

Články ze sekce: Zpravodajství ČTK