CHICAGO, IL, Oct. 20, 2008 -- Siemens continues to see favorable prospects in its water business despite the current economic downturn. "Urbanization and water shortage are long-term trends which will determine the need for water treatment and recycling solutions," explained Jens Wegmann who, as CEO of the Industrial Solutions Division, is responsible for the water business at Siemens. "We are sticking to our view," said Wegmann in Chicago on Monday at Weftec, the biggest water fair in North America, "that the markets for water treatment will continue to grow worldwide." Thanks to its wide-ranging business portfolio and its global corporate access to customers, Siemens Water Technologies is well equipped to compensate for any investment delays at municipal level in individual countries as a result of its industrial and modernization business.
The accessible market volume worldwide for Siemens amounts to some US$ 49 billion (2007). Siemens Water Technologies is predominantly engaged in a wide range business with a project amounts to about US$ 300,000. "Whereas attracting investment capital for individual major projects is likely to become more difficult," said Wegmann, "we continue to see opportunities for growth in general business with products and services aimed at modernizing and expanding existing installations." In North America, for example, growth in projects for re-using water is expected in order to eliminate shortages in municipal and industrial water supplies. Investments are also planned in branches of industry such as open-cast mining, paper production or the food industry where Siemens is active and water is a crucial production factor.
"Our broad business portfolio helps to smooth out economic fluctuations in investments in various branches of industry," stressed Chuck Gordon, CEO of Siemens Water Technologies, a business unit of IS. In spring the business was reorganized, he continued, and divided into four areas, industry, municipal water supply, disinfection and service, enabling a realignment to the respective markets and the associated target groups. Industrial business, which is enjoying above-average growth rates, was the main beneficiary of this. In addition to the wide-ranging sector portfolio, Gordon sees innovations and new products as the engine of the water business. "In the last few years Siemens Water Technologies has invested twice as much in R&D as the industrial average." At Weftec in Chicago, Siemens Water Technologies is presenting new water treatment, sewage sludge reduction and energy saving solutions.
The Siemens Industry Sector (Erlangen, Germany) is one of the world's leading suppliers of production, transportation and building systems.
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