- Siemens makes strong commitment for shaping the future of Germany as a location for industry
- Investment in the future of work in connection with manufacturing, researching, learning, and residential living in the new "Siemensstadt 2.0"
- Biggest single investment in the history of Siemens in Berlin
A commitment to Berlin and Germany: at the time-honored Siemens industrial estate in Berlin's Spandau district, Siemens AG plans to make its biggest single investment ever in the company's history in Berlin. In the coming years, up to €600 million are to be invested in a new world of working and living: Siemensstadt ("Siemens City") 2.0. This project, which covers an area of 70 hectares, aims to transform this large industrial area into a modern, urban district of the future for a diverse range of purposes. A further goal is to strengthen selected key technologies and innovation fields in collaboration with the scientific and business communities. To make this possible, this section of Berlin is to become home to centers of research and expertise, to start-up incubators and to research and scientific institutes as well as their partner companies.
- Highly efficient gas-fired combined cycle plant project in Lomé, Togo
- Siemens collaborates with the Government of the Arab Republic of Egypt on industrialization, education and training
- Siemens, Volkswagen (VW) and the German Development Agency for International Cooperation (GIZ) collaborating on e-mobility in Rwanda
Siemens will partner even more closely with the African countries Togo, Egypt and Rwanda in the areas of power supply, industry, transport and vocational training. Egypt and Togo have signed the corresponding Memoranda of Understanding (MoUs) on the sidelines of the G20 Compact with Africa Investment Summit in Berlin in the presence of Joe Kaeser, President and Chief Executive Officer of Siemens AG, the Presidents of Egypt and Togo and further high-ranking personalities from these partner countries.
- Agreement to cooperate with Ministry of Electricity of Iraq to add 11 gigawatts of power generation capacity in four years
- Roadmap proposes cost savings in billions of USD and generating additional electricity 24/7 for 23 million people
- Plan envisions creating tens of thousands of jobs
- Focuses on energy infrastructure, education, anti-corruption and financing
Siemens and the Ministry of Electricity of the Republic of Iraq have entered a milestone agreement to seek the implementation of the company's roadmap for repowering Iraq. Signed by Qasim Al-Fahdawi, Minister of Electricity, and Joe Kaeser, President and CEO of Siemens AG, the Memorandum of Understanding (MoU) will examine a series of short, medium and long-term plans to meet the reconstruction goals of Iraq and support the country's economic development.
- Miguel Ángel López to take on new role as of December 1, 2018
- Rosa García García to leave Siemens by mutual agreement
- López also to succeed García in chairing SGRE's Board of Directors
In a broader change of responsibilities in Spain, Siemens announced today that Miguel Ángel López, currently Chief Financial Officer of Siemens Gamesa Renewable Energy (SGRE), will succeed Rosa García García at the top of Siemens S.A. in Madrid. After having successfully carried Siemens Spain forward for the past seven years, García (53) has, in agreement with Siemens, decided to pursue opportunities outside the company. She will facilitate a proper hand-over to her successor on December 1, 2018, and serve in an advisory capacity until the end of the year.
- Reconciliation of interests signed for Power and Gas Division and Process Industries and Drives Division in Germany
- Power and Gas to achieve cost savings of about €500 million worldwide, of which €270 million are to be saved in Germany
- Capacity and structure adjustments can now begin in Germany
Siemens and the company's Central Works Council have signed a reconciliation of interests based on the framework agreement reached in May. The goal is to increase the competitiveness of the Power and Gas Division (PG) and the Process Industries and Drives Division (PD). At PG alone, costs are to be reduced – as originally planned – by about €500 million worldwide, with €270 million of this amount to be saved in Germany. Around 2,900 jobs will be cut in Germany instead of the roughly 3,400 announced last November. This reduction in job cuts is due, above all, to the continuation of the location in Görlitz, Germany, and the retention of activities at the Dynamowerk, a Siemens production facility in Berlin. However, the measures are not restricted to capacity adjustments alone. Instead, they are primarily designed to achieve structural improvements and systematically sharpen the company's focus on the technologies of the future.
Siemens and the company's Central Works Council have signed a reconciliation of interests based on the framework agreement reached in May. The goal is to increase the competitiveness of the Power and Gas Division (PG) and the Process Industries and Drives Division (PD). At PG alone, costs are to be reduced – as originally planned – by about €500 million worldwide, with €270 million of this amount to be saved in Germany. Around 2,900 jobs will be cut in Germany instead of the roughly 3,400 announced last November. This reduction in job cuts is due, above all, to the continuation of the location in Görlitz, Germany, and the retention of activities at the Dynamowerk, a Siemens production facility in Berlin. However, the measures are not restricted to capacity adjustments alone. Instead, they are primarily designed to achieve structural improvements and systematically sharpen the company's focus on the technologies of the future.
"The market for fossil power generation has contracted substantially. Against the backdrop of this structural change, the agreement we've reached is critical to improving our competitiveness. We now have to implement the measures quickly," said Lisa Davis, member of the Managing Board of Siemens AG.
"In the past few months, market forecasts have again worsened considerably. The job cuts agreed upon with the employee representatives are only one of the measures urgently necessary to improve our cost position. With the reconciliation of interests, we've also reached an agreement on structural changes and new opportunities for several locations," said Janina Kugel, Chief Human Resources Officer and member of the Managing Board of Siemens AG.
The world's largest trade fair for transport technology – InnoTrans – was being held in Berlin from September 18 to 21. Once again, Siemens has showcased its products in Hall 4.2 and in the outdoor exhibition area.Digitalization is fundamentally transforming the mobility industry. It is improving the availability of vehicles and infrastructures, optimizing operations, and reducing efforts and costs. Reflecting these changes, digital innovations in a networked "Complete Mobility System" was the focus of Siemens' presentation at InnoTrans 2018. Following the motto "Shaping connected mobility," Siemens has showcased new, intelligent solutions that will make rail transport more efficient, safer and more reliable.
Siemens joined Gastech 2018, which took place in Barcelona, Sept. 17 – 20. In its 45th year, the world renowned event was a highly regarded gathering for upstream, midstream and downstream gas and LNG professionals. Siemens used the occasion to highlight its integrated Gas-to-Power (G2P) solutions, through which the company is playing an integral role in increasing utilization of natural gas—a highly abundant, cost-effective fuel—as a feed stock for power plants. Sessions featured Siemens speakers which are outlined below.
- Demand for bonds with a total value of €2.75 billion and maturities of five, nine and twelve years 2.5 times higher than issue volume
- Placement directly after summer lull secures favorable financing conditions
After a five-year absence, Siemens has made an impressive return to the euro capital market. For its new bonds, the company generated very strong demand of €6.8 billion. Siemens issued bonds with a total value of €2.75 billion and maturities of five, nine and twelve years. The high demand enabled Siemens to obtain very good interest-rate conditions over all maturities. At the time of price fixing, the average issue yield for all three maturities was 20 basis points (0.2 percentage points) below the initial indications.
- Around 2,170 apprentices and work-study program participants begin their professional life at 20 Siemens locations
- Training further aligned to the requirements of digitalization
- 27 participants in international training program in Berlin
Around 2,170 young people will begin their vocational training next Monday at 20 Siemens locations in Germany alone. Siemens will be training about 1,530 for careers at the company, while a further 640 are from external partners. The ongoing digitalization of the work environment is playing an increasingly important role at Siemens – and in the company's training programs as well. What began in "apprentice corners" back in 1891 is being continued today at advanced, innovative training centers.