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1 min read sustainable cities

Siemens AG creates new Infrastructure & Cities sector

Siemens AG, the company’s German operations, is founding a fourth sector — Infrastructure & Cities – that will be comprised of selected businesses from the Industry and Energy sectors. In the future, Siemens’ Industry sector will concentrate exclusively on industry customers and reinforce its industry and service business.

“We are orienting Siemens toward technology leadership in a broad spectrum of energy-efficient solutions for cities and industries,” said Siemens President and CEO Peter Löscher. “With this move, we intend to top the €100-billion mark in business volume in the next few years.”

In addition, Siemens is planning an initial public offering (IPO) for its subsidiary Osram in the fall of 2011. This step will give Osram full entrepreneurial freedom to secure and further expand its leading position in a lighting market being swept by technological change. The Supervisory Board of Siemens AG gave its approval for the IPO on March 28.

Read more here …

Published by:

Dan Ilett

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