Reunert Ltd. Buys 60 percent stake in Siemens Enterprise Communications (Pty) Ltd. From Siemens Ltd.
Wednesday, 30 September 2009
With this transaction, the JSE-listed company will hold 100-percent in Siemens Enterprise Communications (Pty) Ltd. The transaction is still subject to approval by the South African competition authorities. The value of the transaction has not been disclosed.
Gerrit Pretorius, Chief Executive Officer of Reunert, commented on the transaction, "The acquisition of the remaining shares of Siemens Enterprise Communications (Pty) Ltd. provides a good opportunity for us to expand in a market that is familiar to the Reunert group. Our Nashua businesses will be significantly enhanced substantially by the addition of South Africa's market leader in enterprise systems to its current portfolio of businesses. As a preferred supplier of office automation equipment, mobile telephony solutions, air conditioning systems and communications solutions, Reunert will be poised to meet nearly all needs of today's enterprise customers."
Lars-Ole Hansen, Senior Vice President and Head of EMEA Sales at Siemens Enterprise Communications, noted, "Our company is pleased to have Reunert represent us in the South African market. We are confident that our clients here will continue to benefit from the outstanding technologies, products, solutions and services that we supply. The longstanding presence of Siemens Enterprise Communications (Pty) Ltd. in the South African market and our well established relationship with the Reunert group will continue to ensure that we provide leading-edge technologies and high quality services to our customers in the communications market." The agreement is in line with Siemens Enterprise Communications' global indirect channel strategy through which it is targeting growth through enablement of channel and service partners around the world.
With this step, Siemens Ltd. is rigorously continuing its strategy of focusing on the three Sectors Energy, Industry and Healthcare. In 2008, Siemens funneled its Enterprise Communications business in a Joint Venture with the Gores Group, an American investor. After Siemens Enterprise Communications (Pty) Ltd. remained untouched by this transaction, it is now becoming a 100% subsidiary of Reunert Ltd.
About Reunert Limited:
Reunert is listed on the JSE in the Industrial Goods and Services (Electronic and Electrical Equipment) Sector. The company manages a number of businesses focused on electronics and electrical engineering and regularly ranks amongst the countries top companies. The key brands of Reunert include CBi-electric, Nashua and Reutech.
About Siemens Limited:
Siemens has had a presence in South Africa since 1860 when the company installed the first telegraph line linking Cape Town and Simon's Town. Today, Siemens offers a balanced portfolio of technologies focusing on the Industry, Energy and Healthcare sectors, together with the cross-sector business of Siemens IT Solutions and Services. As a committed corporate citizen, Siemens has active corporate social investment programmes as well as a comprehensive approach to local content, manpower development, skills and training. Further information is available on the Internet at www.siemens.co.za
For more information contact:
For Reunert Limited:
+27 11 517 9055
For Siemens Limited:
+27 11 652 2146