Siemens Ltd enters an agreement with Mitsubishi-Hitachi to transfer Metals Technologies Business

Siemens AG, Germany has made an agreement with Heavy Industries and Mitsubishi-Hitachi Metals Machinery, Inc for a joint venture to operate metallurgical business industry as a complete provider of products, plant and services for aluminium industry.

In accordance to this, the Board of Directors agreed to transfer Metal Technologies of their company in a meeting on 3rd June, 2014 to a designated entity subject that can be decided later on.

SIEMENS LTD. shares were last trading at Rs.929 in BSE in comparison to closyre of Rs. 938.6. The total shares traded during the day were 28790 in over 2205 trades.

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