Siemens Division Merges With Colorado-Based Unit
TUSTIN — A Siemens Information Systems division with operations here has merged with a unit of Colorado-based Storage Technology Corp., the companies said Tuesday.
The Siemens division, a unit of the German electronics giant Siemens A.G., manufactures high-speed printers designed for use with large computers. It employs about 400 people, including 70 in Tustin.
No layoffs or large employee relocations are expected when the Siemens unit is merged with a Storage Technology printer operation in Louisville, Colo., said Alice Andors, a Siemens spokeswoman. The merged company will have dual headquarters in Tustin and Boca Raton, Fla., where the Siemens division is based.
The companies plan to form a new company to be 51%-owned by Siemens Nixdorf Information Systems Inc. and 49% by Storage Technology. Joint operations are expected to begin in January.
The new company will have estimated annual revenue of more than $100 million.
H. Werner Krause, president and chief executive of Siemens Information Systems, will be president and chief executive of the new company.
“Both Siemens and StorageTek have been very successful in the U.S. high-speed printer marketplace, and joining our operations will make us clearly the third force in the United States,” Krause said. “Our companies have a longstanding relationship, and we share the philosophy that to best meet the needs of the market, you need to specialize.”
The company will make printers for large mainframe computers that can print out documents at speeds of up to 206 pages per minute. The new venture’s main competitors would be International Business Machines Corp. and Xerox Corp.
