MUNICH, Germany-Siemens Semiconductors will spin off from Siemens AG on April 1,
forming a separate legal entity-Infineon Technologies AG, said the company.
According to Siemens, the move is an
important prerequisite for listing Siemens Semiconductors on stock exchanges late this year or early next year. Until
then, the new company will be a wholly owned subsidiary of Siemens AG.
“This move is a major milestone
en route to a public listing at a time when the generally expected upswing in demand for semiconductors takes
place,” said Dr. Ulrich Schumacher, president and chief executive officer of Semiconductors and soon-to-be
president and CEO of Infineon.
Headquartered in Munich, Germany, Infineon is scheduled to begin operations on
April 1 with 25,000 employees worldwide.
