Siemens Plans Restructure of U.S. Divisions

German electronics maker Siemens plans to restructure its U.S. operations and build sales in the company’s biggest overseas market before its slated March listing on the NYSE. The news prompted Siemens shares to jump $12.50 to close at $119 in over-the-counter trading. It plans to consolidate back-office operations such as accounting and personnel management to cut costs and bundle products from its 30 U.S. subsidiaries. Sales in the United States totaled $14.7 billion last year--just behind the $16 billion recorded in Germany--and accounted for about 22% of total 1999 revenue of $65.8 billion. Its U.S. subsidiaries include Westinghouse Power and Osram Sylvania lighting. (Associated Press)