In its decision today regarding the so-called transformer cartel, the European Commission refrained from imposing a fine on Siemens AG. For its decisive role in helping expose the cartel, the company was granted state’s witness status.
Siemens is supporting the new King Abdullah University of Science and Technology (KAUST) in Saudi Arabia, which has begun its academic instruction this semester. KAUST is a graduate research university in Thuwal on the Red Sea, with a diverse, international faculty and graduate student body. Siemens is a founding member of the partnership program KAUST Industrial Collaboration Program (KICP) which aims to intensify cooperation with industry on a regional and a global scale. The focus of the international university’s research activities will include renewable energy, environmental technologies, and material and biosciences.
Siemens’ Healthcare Sector has done extremely well in the crisis, particularly compared to its competitors. “We have the best product, service and solutions portfolio in the healthcare market and an unparalleled understanding of the needs of our customers. This as well as our rigorous cost management and market-oriented innovations have made us a leading company in the healthcare industry,” said Hermann Requardt, CEO of Siemens’ Healthcare Sector at the Siemens Healthcare Capital Market Day in London. “We are now in an excellent position to reap above-average profits from the future worldwide growth of healthcare markets,” added Requardt. The Healthcare Sector’s program to reduce sales and administrative costs is right on schedule. “We’ve made major progress in reducing complexity and costs,” said Michael Sen, CFO of the Healthcare Sector. The focus will now be on increasing capital efficiency and on higher cash generation. Siemens Healthcare is expecting additional synergies in its laboratory diagnostics business.
Siemens AG has honored its best suppliers worldwide in fiscal 2009. The German engineering office, BIS Gas Turbine Systems, located in Bremen, Germany, took first place in the overall ranking. Siemens also presented awards in particularly important subcategories to its best suppliers in the areas Innovation and Global Value Sourcing. These awards went to the French-Italian semiconductor producer STMicroelectronics and the U.S. developer of hearing aid components Knowles Electronics Holding Inc., respectively. “In presenting these awards, we want to honor the partners who have helped us reach the market better and faster,” said Barbara Kux, Member of the Managing Board of Siemens AG, at the awards ceremony near Munich, Germany on Thursday.
Siemens AG has been named once again to the prestigious Dow Jones Sustainability World Index (DJSI), capturing the No. 1 spot in the sector Diversified Industrials, which also includes ITT, General Electric and Toshiba. Siemens has expanded the leading position it held last year in the two assessment categories Compliance and Risk Management and this year received the highest points possible in each category. The company has also considerably improved its rankings in the categories Environment and Society. This is the tenth time in a row that Siemens has been honored by Dow Jones analysts for its sustainable activities. This year’s overall result is the best the company has ever achieved. The changes in the DJSI will come into effect on September 21, 2009.
Siemens AG wants to receive orders worth more than €6 billion for intelligent power networks (Smart Grids) over the next five fiscal years: Siemens is already one of the leading international suppliers of Smart Grids and is continuing to strengthen this position. “We are already on the optimal course in the Smart Grids business and will be running at top speed in the future. A new age for power supplies is dawning with Smart Grids,” said Wolfgang Dehen, CEO of the Siemens Energy Sector. Siemens anticipates that orders for Smart Grid technologies will reach nearly €1 billion in the current fiscal year. “The Smart Grid market will see increasingly dynamic growth fueled by climate change and economic stimulus programs. We want to grow twice as fast as the overall market,” added Dehen. The market being addressed by Siemens totals around €30 billion over the coming five years. Siemens is aiming at seven percent annual growth and a market share of over 20 percent in the Smart Grid business.