Siemens announces plan to take over Frosys

Siemens SRL has announced it intends to take over 100% of the shares of automation company Frosys SRL, based in Cluj-Napoca. It also intends to integrate the Cluj-based company into its division of Industrial Solutions and Services. In 1996, Frosys became Siemens’ authorised partner in the field of electrical drives and industrial automations. After the signing of the partnership, Frosys developed co-operation with Siemens by expanding its activity in the field of medium voltage equipment, as well as opening an the only authorised Siemens service and repair centre in Romania that handles variable speed drives. Shortly after the opening of the local office in Cluj-Napoca, Siemens representatives announced the intention of the German company to invest in upgrading the production facilities of local partner Frosys, the Cluj-based company, to implement industrial automation projects developed by Siemens. According to data available on the website of the Finance Ministry, Frosys posted a 6.1 million-euro (22.1 million-RON) turnover and employed 80 people in total in 2005.