Today's News

Siemens expects stimulus-related work to approach $21 billion

June 22, 2009
/ Print / Reprints /
ShareMore
/ Text Size+

Siemens expects to win new orders of around $21 billion in the next three fiscal years 2010 until 2012, which will be generated by government stimulus programs already announced around the world. Green technologies are expected to account for 40 percent or about $8 billion of this total, which will significantly increase the share of the company's revenues from its environmental portfolio in the future. Siemens based this forecast on an initial systematic analysis of the largest stimulus programs.

In the U.S., Siemens expects orders stemming from the stimulus program of roughly $8 billion. "With their programs, governments worldwide are sending the right signal. 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. They should also have a stabilizing effect on our business," said Siemens President and CEO Peter Loscher.

In the past five years, Siemens has invested more than $25 billion in the U.S. - bolstering its portfolio in Energy, Industry and Healthcare - sectors developed by Siemens to answer the needs created by the megatrends of urbanization, globalization, aging populations and climate change. "In the past three month alone, in a down economy, we have invested over $100 million for new or expanding manufacturing - helping provide more energy-efficient technologies - and creating some 625 jobs," Nolen emphasized. "We are strengthening our ongoing commitment to helping this country grow and prosper, and we believe this will be done primarily through sustainable technologies."

At slightly more than $120 billion, the share of the U.S. stimulus program's portion relevant for Siemens represents the largest share of the worldwide total. China is in second place with a Siemens-relevant share of approximately $35 billion, followed by Germany with a share of around $7 billion. Major parts of these amounts are earmarked for green technologies. For example, investments in green technologies account for around 50 percent of the Siemens-relevant share of China's stimulus program and for about 60 percent of the corresponding share of Germany's stimulus program. "The various governments are strongly focused on sustainable investments. Siemens can help other countries to reach their climate protection targets, especially in close partnership with the local communities," said Peter Loscher.

"Governments should be lauded for ensuring that the majority of these amounts are earmarked for green technologies," said Nolen. He continued, "we are especially excited to represent what we see as a growing 'green' industrial manufacturing sector. This area has our full support, and with continued investment and R&D, we also believe it will be a growth area representing not only more jobs but also a growing supply chain."
You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

ES Gallery: Snapshots & Systems

Check out highlights from projects featured in our magazine this year!
9/25/14 2:00 pm EDT

Test Anxiety? Learn How and When to Test Your Standby Generator

This webinar will discuss generator reliability, testing, and troubleshooting from a practical perspective and make recommendations for a comprehensive inspection and testing program.

Engineered Systems Magazine

es0914_Cover-100.jpg

2014 September

Check out the September 2014 issue of Engineered Systems, with features on radiant panels, refrigerant flow systems, and much more!

Table Of Contents Subscribe

System Design

Based on your experience and knowledge level, are you currently comfortable designing or maintaining a system incorporating VRF or radiant ceiling panels?
View Results Poll Archive

THE ENGINEERED SYSTEMS STORE

The_Green_Energy_Management
The Green Energy Management Book

Learn from our experts how to evaluate job opportunities, market your services, sell a Walk-through Survey, target areas for an Energy Audit, calculate energy savings, do retrofit work, and win continuing contracts for retrofit work.

More Products

Clear Seas Research

Clear Seas Research ImageWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Tomorrow's Environment Podcast

This series from longtime columnist and chronic forward-thinker Howard McKew covers a lot of ground -- from retrocommissioning to systems training, on toward checklists for drawings and tips for meeting minutes. Click HERE to be taken to the podcast page!

STAY CONNECTED

new Facebook icon Twitter icon YouTube iconLinkedIn icon  Google+