June 05 /Siemens Automation and Drives Group has agreed to acquire the Danfoss Flow Division, a manufacturer of electronic drives for the flow measurement of liquids and gases. Financial details of the acquisition were not disclosed. In 2002, The Flow Division had annual sales of approximately 60 million euros. The division employs 450 people and has a worldwide sales organization as well as two production sites at the Danfoss headquarters in Nordborg, Denmark and at Stonehouse, in the UK. With this move, Danfoss is following its strategy to focus on its core businesses.

The Danfoss Flow Division product complements the Siemens portfolio and closes an important product and technology gap and improves Siemens' market access to important customers and regions. The move is designed to combine the flow activities of Siemens Automation And Drives and the Danfoss Flow Division into a new A&D business, Siemens Flow Instruments, headquartered in Nordborg.