FRANKFURT, Germany – Industrial conglomerate Siemens AG will sell its 50 percent stake in Fujitsu Siemens Computers to partner Fujitsu for 450 million euros ($567 million), the companies said in a statement Tuesday.
Munich-based Siemens had considered the sale for several months. FSC, which makes personal computersand laptops, posted sales of 6.6 billion euros in 2007 but a pretax profit of just 105 million euros.
The companies said the sale will go through on April 1 next year, subject to approval from government agencies.
"We continue to focus our company on the strategic sectors industry, energy and health care," said Joe Kaeser, Siemens' chief financial officer.
"We are happy that our joint-venture partner Fujitsu will acquire our stake in Fujitsu Siemens Computers and will take the company to its next level of success."
The chief executive of Fujitsu Siemens Computers, Bernd Bischoff, resigned for personal reasons during the negotiations. Kai Flore, currently the CFO of Fujitsu Siemens Computers, has been appointed the new CEO and president of the company.
Fujitsu Siemens Computers was established in October 1999 as a 50-50 joint venture based in Maarssen, Netherlands.
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