This subsidiary, according to the notice given to BSE, was incoporated on October 29, 1998 at Mumbai in Maharashtra. The automative business manufactured and marketed wiring harnesses for cars which will be transferred to the subsidiary.

Siemens has also informed the exchange of the sale and transfer of its existing tool room at Kalwa works at Thane to the subsiidiary.

Siemens India, the 76-year old Siemens AG's Indian subsidiary, had planned to recast its operations for improving cost structure and productivity across all its plants in the country. This was after global management consultants Booz Allen Hamilton found that the company's costs of production was among the highestin the world.

As a result of this study, the company also had plans to scale down its operations at some units and substitute these with imports from other countries.

It was also reported that the company had firmed up plans to close down its switchgear unit at Kalwa on the ourskrits of Mumbai. Siemens is, at present, also scaling down operations of its medical factory at Worli in central Mumbai.