By Nathan Allen

Siemens AG (SIE.XE) said Monday that it agreed to buy a 25% noncontrolling stake in Italy-based high-voltage switch manufacturer Coelme Group.

Coelme is a subsidiary of U.S. switchgear maker Southern States LLC.

Neither party disclosed financial details of the deal, which is set to close in the first half of 2019.

"We have built up a close relationship with Coelme Group for years as a valuable supplier of high-quality products," said Beatrix Natter, chief executive of transmission products at Siemens Energy Management.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

December 17, 2018 05:27 ET (10:27 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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