Infineon Renames Industrial Division in Green Energy Push
April 03 2023 - 2:48AM
Dow Jones News
By Mauro Orru
Infineon Technologies AG changed the name of its industrial
power control division to Green Industrial Power, as the German
chip maker seeks to cash in on renewable energy, grid expansion and
charging infrastructure.
Infineon said Monday that the name change is already
effective.
"The focus on industrial business has made us highly successful.
This field will continue to grow in the future. At the same time
the decarbonization of energy supplies and mobility will
additionally accelerate the growth of renewable energies, grid
expansion and charging infrastructures," said Peter Wawer,
president of the Green Industrial Power division.
Last week, the group raised guidance for its fiscal second
quarter and the entire fiscal year, citing the resilience of its
core automotive and industrial businesses.
Chief Executive Jochen Hanebeck said in February that Infineon's
automotive and industrial businesses were benefiting from
energy-transition trends and the expansion of electromobility,
while sales of chips for smartphones, computers and data centers
were significantly weaker.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
April 03, 2023 03:33 ET (07:33 GMT)
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