Siemens set to sell its mail and parcel business to Körber for €1.15 billion

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Siemens has reached an agreement to sell its mail and parcel company Siemens Logistics to Körber group for €1.15 billion.

With this transaction, approved by the managing and supervisory boards of Siemens AG, the company is further implementing the streamlining of its portfolio as a focused technology company.

The closing of the deal is expected this year.

“We’re continuously sharpening and optimising our portfolio in order to further strengthen Siemens as a focused technology company,” said Roland Busch, President and CEO of Siemens AG.

“Our airport logistics solutions business will remain at Siemens. It is our clear intention to further strengthen this business as a stable, profitable company over the long term,” Ralf P. Thomas, Chief Financial Officer of Siemens AG added.

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