Siemens has decided to sell its airport baggage sorting business to the Japanese Toyota Group for 300 million euros.
The subsidiary Siemens Logistics, which employs 2.500 people and is headquartered in Nuremberg, is profitable and has a leading market position. The sale, which is expected to be completed next year, is part of Siemens' strategy to sharpen its portfolio as a leading technology company.
Siemens Logistics has an annual turnover of around 550 million euros and serves well-known customers from the aviation industry. The buyer is the Toyota subsidiary Vanderlande, a provider of automation technology for warehouses and airports. Siemens has spun off or sold several parts of the company over the past two decades and is increasingly concentrating on the industrial software business.
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