FILE PHOTO: The logo of German industrial group Siemens is seen in Zurich, Switzerland, January 30, 2019. REUTERS/Arnd Wiegmann
BERLIN (Reuters) -Siemens is preparing a separation of its large drive applications (LDA) business, the German engineering and technology company said on Monday, confirming media reports.
The separation of the unit, which produces heavy-duty electrical drive systems for ships, mines and rolling mills, is the first step to a divestiture, Handelsblatt reported on Monday.
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