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Industrial engineering company Siemens AG says it is shaking up its organizational chart, spinning off its lighting business Osram and creating a new division focusing on urban infrastructure.
The Munich-based company said Tuesday it will hold a public stock offering in Osram GmbH later this year, but will remain a long-term anchor shareholder.
It's also creating a new Infrastructure and Cities division to take advantage of growth in big cities in the developed and emerging worlds.
Siemens makes industrial equipment such as trains, power plants and medical diagnostic equipment.