Siemens in U.S. Postal Service deal

Jun 3, 2007 | News | 0

Siemens AG said Wednesday it received a USD 218 million subcontract from Northrop Grumman Corp. for a project with the U.S. Postal Service.

Siemens will provide optical character recognition and video coding systems, among other items, to help the Postal Service further automate its processing stream for large envelopes, catalogs and magazines.

Siemens’ U.S.-listed shares lost USD 1.88 at USD 130.32 in morning trading, while Northrop Grumman fell 13 cents to USD 75.08.

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