OREANDA-NEWS. February 01, 2013. Effective February 1, 2013, Siemens will complete the worldwide restructuring under company law of the telecommunications and multimedia business operated by the unit Siemens Communication, Media and Technology (CMT). As part of this restructuring, CMT has been converted into a new subcompany controlled by Siemens Convergence Creators Holding GmbH, a wholly owned Siemens subsidiary headquartered in Vienna, Austria. Under its new name Siemens Convergence Creators, CMT will be able to intensify its customer orientation and increase its effectiveness on the global market. Siemens is continuing to concentrate its activities on its core business. Siemens Convergence Creators employees around 2,000 people in nine countries worldwide.

Siemens Convergence Creators offers customers turnkey solutions and services in the areas of communications networks, service and customer management, public security, multimedia infotainment and aerospace technology. In fiscal 2011, the Siemens unit CMT generated total revenue of around €150 million and employed about 2,000 people in nine countries worldwide: China, Germany, India, Croatia, Austria, Romania, Slovakia, the Czech Republic and Hungary.

"As an independent medium-sized company, we'll be faster and more adaptable. We'll also have a more favorable cost position. Entrepreneurial independence will give us added flexibility in the very dynamic telecommunications and media market, while enabling us to identify market developments quickly and help shape them for the benefit of our customers," said Daniel-Rui Felicio, CEO of Siemens Convergence Creators Holding GmbH.

Siemens Convergence Creators supplies communications, media and technology products and solutions in more than 70 countries. Its key customers include leading companies in their respective industries – for example, telecommunications companies, suppliers to telecommunications companies, media companies (TV, publishing houses) transportation companies (cruise ships, railway companies, aircraft producers, airlines and airports) space agencies and satellite operators, public security companies (emergency organizations) and offshore companies (wind power, oil and gas).