Siemens says it is selling its 50% stake in home appliance business, BSH Bosch und Siemens Hausgerate GmbH, to focus on its core businesses, including energy - AFP Photo.
BERLIN: Bosch announced on Monday it was buying out fellow German conglomerate Siemens from their home appliance joint venture for €3bil (US$3.9bil).
Siemens said it was selling its 50% stake in BSH Bosch und Siemens Hausgerate GmbH to focus on its core businesses, including energy, and announced at the same time it was to acquire Dresser-Rand, the US manufacturer of turbines and compressors.
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