FRANKFURT, May 24 Reuters Siemens Energy on Tuesday said it would reduce management posts by about a third and provide investors with more detail of its business in a bid to become more transparent and nimble.

The company, which on Saturday announced a 4.05 billioneuro 4.32 billion bid for the remaining stake in wind turbine unit Siemens Gamesa, said no layoffs were planned as part of the move.

Technology is important, but alone it is insufficient. More and more, it will be essential to be able to act quickly and to be close to the customer, CEO Christian Bruch said. We want to be faster, more flexible, and more customeroriented.

Siemens Energy said that it would split its gas and power segment into three business areas gas services, grid technologies and transformation of industry to let investors better track development of those individual units.

The new reporting structure will become effective from October, when Siemens Energy39;s next fiscal year starts.

Gas services, which will comprise the business with large gas turbines of up to 600 megawatts and related services, aims for a midterm adjusted core profit EBITA before special items of 1012, up from a proforma margin of 7 last year.

Grid technologies, which deals with Siemens Energy39;s power transmission equipment, targets midterm margins of 810, up from a proforma 6.5 margin.

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Reporting by Christoph Steitz; editing by Miranda Murray and Jason Neely

Source Reuters