BERLIN, April 26 Germany's Siemens
will sell a majority stake in its VAI Metals Technologies unit
to Japan's Mitsubishi Heavy Industries, an Austrian
newspaper reported on Saturday citing industry experts.
Siemens will retain a 30 percent stake in the
Linz-headquartered company so as to secure its position as a
supplier, the Oberoesterreichische Nachrichten reported.
The paper said Siemens would announce the sale on May 7,
when the German group is due to give a strategy update and
publish second-quarter results.
Siemens declined to comment on the report or to say whether
the division, which employs 9,000 people worldwide and provides
equipment and facilities for the steel industry, was up for
Austrian investors had also expressed interest in a sale,
with Michael Tojner, head of industrial group Montana Tech
Components, saying earlier this month he would be interested in
Mitsubishi could not be reached for comment on Saturday.
(Reporting by Victoria Bryan; Editing by Stephen Powell)