German company Siemens has taken over the worldwide metering business of the Electrowatt Group. This company was formerly called Landis and Gyr Utilities.
The move entails the formation of Siemens Metering AG, based in Zug, Switzerland. The new company will fall under the auspices of Siemens' Power Transmission and Distribution group. It will handle the latter's metering activities.
The takeover of Electrowatt's metering business is the first step towards integrating the industrial business arm of the Swiss Electrowatt Group into Siemens. Siemens has not taken over the power systems control activities of Landis and Gyr. These are to continue in a newly formed company, Telegyr Systems AG, also based in Zug. Telegyr Systems is a 100 per cent owned subsidiary of Electrowatt AG.