Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Siemens AG is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe. The principal divisions of the corporation are Industry, Energy, Healthcare and Infrastructure & Cities.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedGlobal 500, is an annual ranking of the top 500 corporations worldwide
Global 500Top 100 largest companies in Russia by revenue
Top 100Had a subsidiary company and production facilities. 04.2023: Khorovich Mikhail Borisovich is no longer the CEO of the organization. Mirakyan Avet Vladimirovich becomes the new General Director of the organization. LLC INVESTMENT GROUP "INSIGHT" becomes the new founder of the organization. The record about the founder BERLINER FERMÖGENSFERWALTUNG GMBH has been removed. The record about the founder SIEMENS BETAILIGUNGSFERVALTUNG GMBH & CO. OHG has been deleted - finalized sale. Siemens lost €600 million due to the termination of business in Russia.
Exit Russian market. Siemens has already sold 4 large factories (SIMENS ENERGETIKA TRANSFORMATORY LLC, Siemens Gas Turbine Technologies LLC, Siemens Transformers LLC, and Siemens Finance LLC). The Group's assets still remained in the Russian Federation in 2022 (in total, they had more than a dozen legal entities), but a clear trend towards exit is visible. In April 2023 finalized sales of assets. Siemens and Volkswagen seek compensation from German government over withdrawal from Russian market. Systems LLC (formerly Siemens LLC, the Russian structure of Siemens AG) plans to initiate a voluntary liquidation procedure in February 2024 due to the inability to continue its normal activities related to the import of goods into the Russian Federation, according to the company’s report on the results of 2023. In October 2022, PJSC Inter RAO announced the purchase of Siemens Energy's 65% stake in a joint venture with Power Machines - STGT LLC. Also RAO Intertech B.V. (Dutch structure of Inter RAO) became the owner of the Voronezh Siemens Energy plant - Voronezh Transformer LLC (formerly Siemens Energy Transformers LLC). 04.2024: The legal entity LLC "SMART INDUSTRY SOFTWARE" was liquidated on April 3, 2024.