Siemens planning no further rail automation deals

FRANKFURT Thu Nov 29, 2012 3:28am EST

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FRANKFURT Nov 29 (Reuters) - Siemens AG has no further targets in mind in rail automation after buying Invensys' rail business for 1.74 billion pounds ($2.78 billion).

"We are not doing any other deals in rail automation," Siemens division Infrastructure & Cities Chief Executive Roland Busch said during a conference call on Thursday, when asked whether Siemens may be interested in rival Ansaldo STS.

The deal to buy Invensys Rail, announced late on Wednesday, vaults Siemens well ahead of rivals in rail signalling, with a 17 percent market share, almost double the closest rivals Alstom and Ansaldo STS.

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