ebm-papst Signs Agreement to Sell Its I DT Division to Siemens

In March, ebm-papst Group announced that it will sell its Industrial Drive Technology (IDT) division to Siemens. Both parties have signed an agreement to this effect. The intended sale to Siemens will give IDT international market access through a larger global sales organization, opening up new horizons for innovation and further successful business growth. All employees of the division will be taken over by Siemens.