The German industrial group Siemens announced on today another divestment in its telecoms activities, saying it would sell 80 percent of its SHC (Siemens Home and Office Communication Devices) unit, which makes cordless phones (DECT and CAT-iq), to Arques Industries.

 

The amount of the transaction was not provided, but the deal was to be finalised by October 1, a statement said.

SHC, which Siemens described as the European leader in cordless telephones, employs 2,100 people and posted 2007 sales of 792 million euros (1.23 billion dollars). Two-thirds of the company's sales are generated by Gigaset cordless phones.

It no longer belongs to Siemens core activities of energy, industry and medical technologies, the group said.

 

Arques Industries is a specialist in the purchase of industrial holdings, which it then turns around.

Under ARQUES management, SHC is expected to expand its position as best in class and market leader in the premium price segment. In this connection, the company's product portfolio will be focused on high-margin business. A large number of product innovations - in the area of Voice over IP, for example - and an expansion of the company's international business are expected to generate targeted growth. ARQUES also ints to intensify R&D investment at research locations in Germany and Poland. To continue placing innovative SHC products successfully on the market, ARQUES can continue to use the Siemens brand name for the next two years.