Siemens AG says that it has signed a range of new orders worth about CNY2 billion with Chinese firms; and its environmental business accounted for a significant proportion of the total.
Peter Loscher, the president and CEO of Siemens AG, stated that economic stimulus programs have been adding momentum to the green technology market, especially in new and emerging markets such as China. Loscher added that green products and solutions had stabilized Siemens' business during the global economic recession.
Richard Hausmann, the chief executive of Siemens Northeast Asia, said that with its combined services that can meet the demand of China's economic stimulus programs, Siemens will further expand its businesses in China. Hausmann added that Siemens is fully on track to reach its target of generating CNY20 billion from China's stimulus programs by 2012. According to Hausmann, Siemens has signed deals in China for airport logistics, signaling and rolling stock, to a total value of about CNY1.3 billion.
It is learned that in addition to the CNY1.35 billion investment in green businesses that it pledged earlier this year, Siemens will invest a further CNY500 million in its operating companies in Tianjin over the next three to five years. Most of the investment will be used to expand wind power facilities to meet the ever increasing demand in China's wind power market.