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Article: Siemens-VDO merger helps in emerging business line.(Siemens Automotive Corp., VDO North America L.L.C., electronics and fuel systems)(Brief Article)
- Article from:
- Crain's Detroit Business
- Article date:
- March 19, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The era of the merger isn't completely dead. The impending combination of Siemens Automotive Corp. and VDO North America L.L.C., forming SiemensVDO Automotive, shows that if companies see value, they're still willing to make a deal.
Siemens and VDO will try to create that value as a new $1.5 billion supplier focusing on electronics and fuel systems.
Herb Everss, Mannesmann VDO North America president and CEO from 1997 to 1999, likes the pairing of the two companies. In fact, they had first discussed the matter in 1993. Everss also is a former vice president of Siemens Automotive.
``It's a good fit for Siemens,'' he said. ``They saw that before. ...