Siemens boost business in China with metal company acqiuisitions

Siemens boost business in China with metal company acqiuisitions Frankfurt  - Giant German conglomerate Siemens AG said Wednesday it had boosted its business operations in China by buying majority stakes in two Chinese metal companies.

Munich-based Siemens said its energy division had acquired majority holdings in the metalwork group Yangtze Delta Manufacturing and the aluminium foundry GIS Steel & Aluminum Products.

Siemens did not release any details of how much it had paid for the stakes in the two companies.

However, Siemens said the two Chinese metal companies together had a workforce totalling 600 employees and a combined revenue of 65 million euros (93 million dollars) in 2008. (dpa)