At meeting held on 03 June 2014
Siemens announced that Siemens AG, Germany has entered into an agreement with Mitsubishi-Hitachi Metals Machinery, Inc., and Mitsubishi Heavy Industries for setting up a joint venture to operate in the business of metallurgical industry as a complete provider of plant, products and services for the iron, steel and aluminium industry.Pursuant to this, the Board of Directors at its meeting held on 03 June 2014, has agreed in principle to transfer the Metals Technologies business of the Company to a designated entity subject to such terms and conditions as may be decided later on.
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