Siemens ends 2013 with strong growth in China
Updated: 2013-11-14 13:47
By MENG JING (chinadaily.com.cn)
German engineering and electronics giant Siemens reported strong growth in its order intake in China during financial year 2013, which ended on Sept 30.
The German conglomerate said its intake totaled 6.61 billion euros ($8.87 billion), increasing 9.8 percent year-on-year.
Revenue in China reached 6.14 billion euros, roughly the same as 2012, contributing 8 percent to the company's global total.
The total workforce of Siemens' continuing operations grew to nearly 32,000 as the company further expanded in the China market.
"We have successfully navigated through a challenging year by staying close to our customers," said Lothar Herrmann, adding that the company's continued localization, including local innovation and manufacturing, is the main reason for the company's strong performance in China.
"With the Chinese economy being oriented towards quality growth, we will continue to build on our strong partnership with our customers and fully leverage on our technological expertise for the benefit of the Chinese market," said Herrmann.
He said that as the second largest overseas market for Siemens, China will continue to play a crucial part in the global growth of the company.
In mid-October, the company announced its plan to eliminate its cluster setup, aiming to give individual countries more competences in the future.
The realignment will eliminate an organizational level at the company. In the future, countries that are most important for Siemens — based on their business volume and growth prospects — are to report directly to the four Managing Board members responsible for Siemen's four core business sectors: energy; healthcare; industry; and infrastructure and cities.