Germany’s Siemens Energy is selling Trench, its high-voltage equipment division, to private equity firm Triton after announcing a review of the business earlier this year, Reuters reports.

A Siemens spokesman said that employees were informed about the transaction, adding that the transaction is still subject to approval by labor representatives, according to News.ro.

Trench, which makes bushings, transformers and coil products, has about 2,500 employees, less than 3% of Siemens Energy’s total workforce.

The company refused to comment on the value of the transaction.

Handelsblatt, which first reported on the sale, said the price was in the three-digit million euro range.

Siemens Energy, which is facing losses at its wind power division Siemens Gamesa, expects a net loss of 4.5 billion euros ($4.8 billion) in the current financial year.

Sources told Reuters earlier this year that the group was considering closing factories and outsourcing the production of some components in response to the crisis.