Leading Indian steelmaker goes for DynaGap Soft Reduction technology againSiemens VAI Metals Technologies has won an order from leading steel producer Jindal South West Steel Ltd. (JSW Steel) for a new continuous slab caster for its steel works in Toranagallu, Karnataka State, India.
For the full year ended September 30, 2011, Siemens Ltd. registered Sales of Rs. 11,941.9 crores, a growth of 28% over financial year 2010. Both New Orders and Order Backlog during the year were stable at Rs. 12,288.6 crores and Rs. 13,921.3 crores respectively. Profit after Tax (PAT) also remained stable at Rs. 845.4 crores, up by 2% due to completion of large projects.
Increased focus on financial solutions to help local customers access urgently required capital for equipment and infrastructure developmentWith the Indian economy predicted to require EUR 5.2 trillion (Rs. 343.2 trillion) in capital expenditure between now and 2020 (based on Global Insight data), Siemens Financial Services (SFS) is rolling out its range of Commercial Finance solutions to help business and public sector customers in India to invest efficiently, and to maximize growth opportunities in a rapidly developing economy. This follows the approval of the Reserve Bank of India to operate SFS’ Commercial Finance business as a Non-Banking Finance Company (NBFC).
Breakthrough in high-voltage product technology from Siemens India’s manufacturing facility at AurangabadThe Power Transmission Division of Siemens today announced the launch of the world’s first 1200 kV SF6 Circuit Breaker, from its manufacturing facility at Aurangabad. With the launch, Siemens reinforced its commitment to partner India’s National Grid Agenda and to drive the country’s energy mission.
At its Board Meeting held today, Siemens Ltd. announced that it will amalgamate the operations of Siemens VAI Metals Technologies Pvt. Ltd., Kolkata (SVAI - a 100% Siemens AG company) and Morgan Construction Company India Pvt. Ltd., Mumbai (Morgan - a 100% subsidiary of SVAI) with itself. The appointed date of the amalgamation is 1st October, 2011. The Board of Directors has considered the share swap ratio as determined by independent valuer Grant Thornton. The fairness opinion on the valuation was provided by ICICI Securities Ltd., a category – I merchant banker.
After a highly successful campaign in October 2010, Siemens is continuing its commitment to promoting the early detection of breast cancer. Siemens has launched a new campaign with the motto “Turn your city pink! Raise awareness for breast cancer.”. The company is encouraging people around the world to spread the campaign motto in their personal environments in the most creative and public ways possible. The color pink is a global symbol of solidarity with breast cancer patients. Participants should document their efforts – in which pink should be a prominently featured color – in photos or a video and upload them to the campaign website. Siemens will donate five U.S. dollars to a non-profit breast cancer organization for each photo or video that is uploaded, and will award great prizes to the most creative participants.
Siemens Ltd. and Medanta – The Medicity, one of India's largest multi-super specialty institutes located in Gurgaon and founded by eminent cardiac surgeon, Dr. Naresh Trehan, have come together to ensure affordable and quality healthcare reaches the remote corners around Gurgaon. This is part of the Corporate Citizenship initiative of Siemens Ltd.
Reliance Security Solutions Limited, a subsidiary of Reliance Industries Ltd., (RIL) and Siemens Ltd. have signed a Memorandum of Understanding to jointly develop Homeland Security Solutions for Safe, Secure and Smart Cities and Highways in India.
The Healthcare Sector of Siemens Ltd. has installed five state-of-the-art medical technologies at Kovai Medical Center & Hospital in Coimbatore, raising quality and efficiency of healthcare availability in this city. Making its presence for the first time in Tamil Nadu, these technologies allow highly accurate and early diagnosis of all kinds of ailments, thus aiding precise treatment.
Siemens has won an order from Indiabulls Infrastructure Company Limited worth Rs. 124 crores to build 400/220kV Gas Insulated Switchgear (GIS) substation associated with 5x270 MW Sinnar Thermal Power Project at Nasik. The substation is scheduled for commissioning by October 2012.