Siemens announced earlier in the year that it would begin running the unit as a stand-alone company, to provide a sharper and more business-specific focus. The new set-up is due to be established worldwide by mid-2018.

The business is one of the world’s leading providers of components for mechanical drive technology, says Siemens, with production at eight locations and more than 6,000 employees. It serves sectors including conveyor and lifting technology, wind power, cement production, and marine shipping.

Stefan Tenbrock, chief executive at Siemens Mechanical Drives, said: “Flender is our strong brand with a tradition more than a century old, and we’ve always done business under the name. At this year’s Hannover Messe, we highlighted Flender even more brightly, and made quite a splash with our stand-alone fair booth for gear units and clutches.

“Eventually all the unit’s activities worldwide will be gathered under Flender. It’s an important step in our transformation into a stand-alone firm under Siemens AG, acting as a market leader for our customers worldwide and thinking like a mid-sized company.”