Siemens expects to win orders of around $21 billion in the next three fiscal years from government stimulus programs already announced around the globe. Green technologies are expected to account for 40% of this total, which the company hopes will increase the share of revenues from its environmental portfolio. In fiscal 2008, Siemens’ environmental technologies generated revenue of around $26 billion. The company hopes to increase this figure to $35 billion by 2011. Siemens based this forecast on an initial systematic analysis of the largest stimulus programs.
In other news, the Industry Solutions Division of Siemens Ltd. India has received an order from Vedanta Aluminium Ltd. to supply turnkey high-voltage power distribution equipment for an aluminum melting plant in Jharsuguda, Orissa. The project is part of the second phase of expansion at this facility. The goal of the expansion is to increase the annual melting capacity from 0.5 to 1.75 million metric tons and triple the production of ingots. Siemens had already supplied the high-voltage power system for the first expansion stage of the melting plant.
Siemens Expects $21 Billion in Orders From Stimulus Programs
June 23, 2009