Nuremberg, Germany and Nordborg, Denmark —Siemens has purchased the Flow Division of Danfoss for an undisclosed amount. The Flow Division, which
manufactures electronic devices for the flow measurement of liquids and gases, posted sales of €60 million ($56.6 million = €1.06 = $1.10) in 2002. Siemens Automation and Drives will combine its flow activities with the Flow Division
to form Siemens Flow Instruments, which will be headquartered in Nordborg. Siemens stated that process automation, of which flow meters account for one quarter of current requirements, is of strategic importance to the company.