Siemens Large Drives India completed the acquisition of the large drives applications business from Siemens for $56m.

Siemens Large Drives India completed the acquisition of the large drives applications business from Siemens, a global powerhouse focusing on the areas of electrification, automation and digitalization, for $56m. The transaction is consequent to intent of Siemens to carve out the large drives applications business globally into a separate legal entity.