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Siemens AG Expects Around $21 Billion in New Orders from Stimulus Programs
Green Technology Featured Articles
June 22, 2009

Siemens AG Expects Around $21 Billion in New Orders from Stimulus Programs

By Tim Gray
TMCnet Web Editor

At least one company is expecting to benefit from worldwide stimulus packages as governments continue to invest in energy-reducing technologies. German industrial conglomerate Siemens AG said today it expects to pull in $21 billion in new orders as governments offer cash and incentives for companies to cut energy consumption.

 
As green technologies continue to emerge as a focal point for many companies and governments – Siemens (News - Alert) expects  40 percent or approximately $9 billion of this total to come from green tech – the  global powerhouse in electronics and electrical engineering expects to increase significantly its share of revenues from its expanding environmental portfolio.
 
Siemens based its forecast on an initial systematic analysis of the largest stimulus programs, according to the company's president and chief executive officer, Peter Löscher.
 
“With their programs, governments worldwide are sending the right signal,” Löscher said. “Against the backdrop of the worst global economic crisis in decades, these government measures are at least partially cushioning, in some cases, sharp declines in private-sector demand."
 
Löscher, speaking in Euro numbers, says as part of the government’s efforts to overcome the global economic crisis, stimulus programs of approximately $2.77 trillion have been announced and several of them have already been initiated. Roughly one third of this total – or some $971 billion – is slated for investment in infrastructure projects.
 
“They should also have a stabilizing effect on our business. In addition, the government programs will safeguard jobs worldwide,” said Löscher. “The large portion of the investments in environmental technologies will probably create new green jobs as well. This applies particularly to the green infrastructure giant Siemens.”
 
The Berlin-based company says that in a country-by-country comparison, the shares of the stimulus program that Siemens can address are the largest in the U.S., where they total slightly more than $118 billion.
 
In addition, Siemens expects China to have a Siemens-relevant share of approximately $35 billion followed by Germany with a share of roughly $6.9 billion. Major parts of these stimulus programs are earmarked for green technologies.
 
“The various governments are strongly focused on sustainable investments. Siemens can help other countries reach their climate protection targets, particularly in close partnership with local communities,” Löscher said.
 
Investments in green technologies account for nearly 50 percent in China and for about 60 percent in Germany, according to Löscher.  “The various governments are strongly focused on sustainable investments. Siemens can help other countries reach their climate protection targets, particularly in close partnership with local communities,” he said.

As TMCnet also reported today, Siemens has been expanding its divisions in the telcom space and its Nokia (News - Alert) Siemens Networks division is buying substantially all of its CDMA business and LTE Access for $650 million.
  

Edited by Michael Dinan


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