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Siemens Plans Osram IPO When Market Recovers, Sueddeutsche Says
Siemens AG will start an initial public offering of its Osram lighting business as soon as the market environment is conducive, Sueddeutsche Zeitung reported, citing an interview with Siemens Chief Executive Peter Loescher.
Siemens is better prepared for a downturn than it was in 2008, Loescher added, with an order backlog of 96 billion euros ($129 billion) and half of 2012’s revenue already in the order books, according to a preview of an article to be published tomorrow in the German newspaper.
Siemens is also planning “massive investment” in electric mobility, Sueddeutsche cited Loescher as saying.
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