Siemens makes acquisition, launches business division

Siemens makes acquisition, launches business division

New York

Siemens has expanded its corporate portfolio with the acquisitions of Landis & Staefa and Cerberus Pyrotronics, two industrial divisions of Electrowatt AG. Siemens paired the two companies with the project business and facility management services of the Siemens Industrial Group to form a new entity called Siemens Building Technologies, which is headquartered in Zurich. Oskar K. Ronner serves as president and CEO of the company. Landis & Staefa has been renamed the Landis Division, with John J. Grad continuing as president and CEO. Cerberus is known as the Cerberus Division, with Ronald C. Matson remaining as president and CEO of that business. — TGW

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