Siemens

Siemens AG (German pronunciation: [ˈziːməns]

ⓘ [3][4][5] or Siemens AG
[-mɛns][5]) is a German multinational
technology conglomerate. It is focused on industrial
automation, distributed energy resources, rail transport
and health technology.[6] Siemens is the largest
industrial manufacturing company in Europe,[7] and
holds the position of global market leader in industrial
automation and industrial software.[8]

The origins of the conglomerate can be traced back to

1847 to the Telegraphen Bau-Anstalt von Siemens &
Halske established in Berlin by Werner von Siemens
and Johann Georg Halske. In 1966, the present-day
corporation emerged from the merger of three
companies: Siemens & Halske, Siemens-Schuckert,
and Siemens-Reiniger-Werke. Today headquartered in Headquarters in Munich
Munich and Berlin, Siemens and its subsidiaries
Company type Public
employ approximately 320,000 people worldwide and
reported a global revenue of around €78 billion in Traded as FWB: SIE ([Link]
2023.[6] The company is a component of the DAX and [Link]/global-search/
SIE)
Euro Stoxx 50 stock market indices.[9] As of December
2023, Siemens is the second largest German company DAX component

by market capitalization.[10] ISIN DE0007236101 ([Link]

[Link]/?language=en&i
As of 2023, the principal divisions of Siemens are sin=DE0007236101)
Digital Industries, Smart Infrastructure, Mobility, and Industry Conglomerate
Financial Services, with Siemens Mobility operating as Predecessors Siemens & Halske
an independent entity. Major business divisions that
Siemens-Schuckert
were once part of Siemens before being spun off
Siemens-Reiniger-Werke
include semiconductor manufacturer Infineon
Technologies (1999), Siemens Mobile (2005), Gigaset Founded 1 October 1847
Berlin, Kingdom of Prussia
Communications (2008), the photonics business Osram
(2013), Siemens Healthineers (2017), and Siemens Founder Werner von Siemens
Energy (2020). Headquarters Munich, Germany[1]
Area served Worldwide
Key people Roland Busch (CEO)
History Jim Hagemann Snabe
(chairman)
Products industrial automation, drive
1847 to 1901 technology, building
technology, energy
Siemens & Halske was technology, financial
founded by Werner von services, medical technology,
Siemens and Johann mobility solutions, software
Georg Halske on 1 Revenue €77.769 billion (2023)[2]
October 1847. Based on Operating €11.201 billion (2023)[2]
the telegraph, their income
invention used a needle Net income €8.529 billion (2023)[2]
to point to the sequence Total assets €145.067 billion (2023)[2]
of letters, instead of
Total equity €53.060 billion (2023)[2]
using Morse code. The
company, then called Owner Siemens family (6.9%)
Werner von Siemens, co-
founder of Siemens & Telegraphen-Bauanstalt Number of 320,000 (2023)[2]
Halske von Siemens & Halske, employees
opened its first Divisions Siemens Digital Industries
workshop on 12 Siemens Smart Infrastructure
October.[11] Siemens Mobility
Siemens Financial Services
In 1848, the company built the first long-distance
telegraph line in Europe: 500 km (300 miles) from Website [Link] ([Link]
[Link]/)
Berlin to Frankfurt am Main. In 1850, the founder's
younger brother, Carl Wilhelm Siemens, later Sir
William Siemens, started to represent the company in London. The London agency became a branch
office in 1858. In the 1850s, the company was involved in building long-distance telegraph networks in
Russia. In 1855, a company branch headed by another brother, Carl Heinrich von Siemens, opened in St
Petersburg, Russia. In 1867, Siemens completed the monumental Indo-European telegraph line stretching
over 11,000 km (6800 miles) from London to Calcutta.[12]

In 1867, Werner von Siemens described a dynamo without

permanent magnets.[13]

A similar system was also independently invented by Ányos

Jedlik and Charles Wheatstone, but Siemens became the first
company to build such devices. In 1881, a Siemens AC
Alternator driven by a watermill was used to power the world's
first electric street lighting in the town of Godalming, United
First electric locomotive, built in 1879
Kingdom. The company continued to grow and diversified into
by company founder Werner von
electric trains and light bulbs. In 1885, Siemens sold one of its Siemens
generators to George Westinghouse, thereby enabling
Westinghouse to begin experimenting with AC networks in
Pittsburgh, Pennsylvania.

In 1887, Siemens opened its first office in Japan.[14] In 1890, the founder retired and left the running of
the company to his brother Carl and sons Arnold and Wilhelm. In 1892, Siemens was contracted to
construct the Hobart electric tramway in Tasmania, Australia, as it increased its markets. The system
opened in 1893 and became the first complete electric tram network in the Southern Hemisphere.[15]

1901 to 1933
Siemens & Halske (S &
H) was incorporated in
1897 and then merged
parts of its activities
with Schuckert & Co.,
Nuremberg, in 1903 to
become Siemens-
Schuckert. In 1907,
The company built airplanes during
Siemens (Siemens & Siemens & Halske Omnibus 4x4HP;
World War I, for example, this
Siemens airplane in 1926 for Ernst
Halske and Siemens- max. Speed 28 km/h (18 mph) (1899).
Udet. Schuckert) had 34,324
employees and was the
seventh-largest company in the German empire by number of
employees. [16] (see List of German companies by employees in 1907)

In 1919, S & H and two other companies jointly formed the Osram lightbulb company.[17]

During the 1920s and 1930s, S & H started to manufacture radios,

television sets, and electron microscopes.[18]

In 1932, Reiniger, Gebbert & Schall (Erlangen), Phönix AG (Rudolstadt)

and Siemens-Reiniger-Veifa mbH (Berlin) merged to form the Siemens-
Reiniger-Werke AG (SRW), the third of the so-called parent companies
that merged in 1966 to form the present-day Siemens AG.[19]

In the 1920s, Siemens constructed the Ardnacrusha Hydro Power station

on the River Shannon in the then Irish Free State, and it was a world first
for its design. The company is remembered for its desire to raise the
wages of its underpaid workers, only to be overruled by the Cumann na
nGaedheal government.[20]
British Siemens
advertisement from the
1933 to 1945 1920s

Siemens (at the time:

Siemens-Schuckert)
exploited the forced
labour of deported
people in extermination
camps. The company
owned a plant in
Auschwitz
Prisoners around 1944 working at a concentration
A Siemens truck being used as a Nazi
Siemens factory in KZ Bobrek, a camp.[21][22]
public address vehicle in 1932
subcamp of Auschwitz concentration
camp[21]
Siemens exploited the forced labour of women deported to the
Ravensbrück concentration camp; a Siemens factory was located
in front of the camp.[23]
During the final years of World War II, numerous plants and factories in
Berlin and other major cities were destroyed by Allied air raids. To
prevent further losses, manufacturing was therefore moved to alternative
places and regions not affected by the air war. The goal was to secure
continued production of important war-related and everyday goods.
According to records, Siemens was operating almost 400 alternative or
relocated manufacturing plants at the end of 1944 and in early 1945.

In 1972, Siemens sued German satirist F.C. Delius for his satirical history
of the company, Unsere Siemens-Welt, and it was determined much of the
book contained false claims although the trial itself publicized Siemens's
history in Nazi Germany.[24] The company supplied electrical parts to
Siemens Factory and Nazi concentration camps and death camps. The factories had poor
Ravensbrück concentration working conditions, where malnutrition and death were common. Also,
camp
the scholarship has shown that the camp factories were created, run, and
supplied by the SS, in conjunction with company officials, sometimes
high-level officials.[25][26][27][28]

1945 to 2001
In the 1950s, and from their new base in Bavaria, S&H started to manufacture computers, semiconductor
devices, washing machines, and pacemakers. In 1966, Siemens & Halske (S&H, founded in 1847),
Siemens-Schuckertwerke (SSW, founded in 1903) and Siemens-Reiniger-Werke (SRW, founded in 1932)
merged to form Siemens AG.[29] In 1969, Siemens formed Kraftwerk Union with AEG by pooling their
nuclear power businesses.[30]

The company's first digital telephone exchange was produced in 1980, and
in 1988, Siemens and GEC acquired the UK defence and technology
company Plessey. Plessey's holdings were split, and Siemens took over the
avionics, radar and traffic control businesses—as Siemens Plessey.[31]

In 1977, Advanced Micro Devices (AMD) entered into a joint venture

with Siemens, which wanted to enhance its technology expertise and enter
the American market.[32] Siemens purchased 20% of AMD's stock, giving
the company an infusion of cash to increase its product lines.[32][33][34]
The two companies also jointly established Advanced Micro Computers
(AMC), located in Silicon Valley and in Germany, allowing AMD to enter
the microcomputer development and manufacturing field,[32][35][36][37] in A 1973 Siemens electron
particular based on AMD's second-source Zilog Z8000 microscope on display at
microprocessors. [38][39] When the two companies' vision for Advanced the Musée des Arts et
Micro Computers diverged, AMD bought out Siemens's stake in the Métiers in Paris
American division in 1979.[40][41] AMD closed Advanced Micro
Computers in late 1981 after switching focus to manufacturing second-
source Intel x86 microprocessors.[38][42][43]
In 1985, Siemens bought Allis-Chalmers' interest in the
partnership company Siemens-Allis (formed 1978) which supplied
electrical control equipment. It was incorporated into Siemens's
Energy and Automation division.[44]

In 1987, Siemens reintegrated Kraftwerk Union, the unit

overseeing nuclear power business.[30]

In 1987, Siemens acquired Kongsberg Offshore from the

Norwegian Government, selling it on to FMC Technologies in
1993.[45] Historical Siemens logos

In 1989, Siemens bought the solar photovoltaic business,

including 3 solar module manufacturing plants, from industry pioneer ARCO Solar, owned by oil firm
ARCO.[46]

In 1991, Siemens acquired Nixdorf Computer and renamed it Siemens Nixdorf Informationssysteme, in
order to produce personal computers.[47]

In October 1991, Siemens acquired the Industrial Systems Division of Texas Instruments, based in
Johnson City, Tennessee. This division was organized as Siemens Industrial Automation,[48] and was later
absorbed by Siemens Energy and Automation, Inc.

In 1992, Siemens bought out IBM's half of ROLM (Siemens had bought into ROLM five years earlier),
thus creating SiemensROLM Communications; eventually dropping ROLM from the name later in the
1990s.[49]

In 1993–1994, Siemens C651 electric trains for Singapore's Mass Rapid Transit (MRT) system were built
in Austria.

In 1997, Siemens agreed to sell the defence arm of Siemens Plessey to British Aerospace (BAe) and a
German aerospace company, DaimlerChrysler Aerospace. BAe and DASA acquired the British and
German divisions of the operation respectively.[50]

In October 1997, Siemens Financial Services (SFS) was founded to act as a competence center for
financing issues and as a manager of financial risks within Siemens.

In 1998, Siemens acquired Westinghouse Power Generation for more than $1.5 billion from the CBS
Corporation and moving Siemens from third to second in the world power generation market.[51]

In 1999, Siemens's semiconductor operations were spun off into a new company called Infineon
Technologies. Its Electromechanical Components operations were converted into a legally independent
company: Siemens Electromechanical Components GmbH & Co. KG, (which, later that year, was sold to
Tyco International Ltd for approximately $1.1 billion.[52]

In the same year, Siemens Nixdorf Informationssysteme AG became part of Fujitsu Siemens Computers,
with its retail banking technology group becoming Wincor Nixdorf.[47]

In 2000, Shared Medical Systems Corporation[53] was acquired by the Siemens's Medical Engineering
Group,[54] eventually becoming part of Siemens Medical Solutions.
Also in 2000, Atecs-Mannesman was acquired by Siemens,[55] The sale was finalised in April 2001 with
50% of the shares acquired, acquisition, Mannesmann VDO AG merged into Siemens Automotive
forming Siemens VDO Automotive AG, Atecs Mannesmann Dematic Systems merged into Siemens
Production and Logistics forming Siemens Dematic AG, Mannesmann Demag Delaval merged into the
Power Generation division of Siemens AG.[56] Other parts of the company were acquired by Robert
Bosch GmbH at the same time.[57] Also, Moore Products Co. of Spring House, PA USA was acquired by
Siemens Energy & Automation, Inc.[58]

2001 to 2005
In 2001, Chemtech Group of Brazil was incorporated into the
Siemens Group;[59] it provides industrial process optimisation,
consultancy and other engineering services.[60]

Also in 2001, Siemens formed joint venture Framatome with

Areva SA of France by merging much of the companies' nuclear
businesses.[30]

In 2002, Siemens sold some of its business activities to Kohlberg A Siemens Velaro high speed train
in service on the Cologne–Frankfurt
Kravis Roberts & Co. L.P. (KKR), with its metering business
high-speed rail line
included in the sale package.[61]

In 2002, Siemens abandoned the solar photovoltaic industry by selling its participation in a joint-venture
company, established in 2001 with Shell and [Link], to Shell.[62]

In 2003, Siemens acquired the flow division of Danfoss and incorporated it into the Automation and
Drives division.[63] Also in 2003 Siemens acquired IndX software (realtime data organisation and
presentation).[64][65] The same year in an unrelated development Siemens reopened its office in Kabul.[66]
Also in 2003 agreed to buy Alstom Industrial Turbines; a manufacturer of small, medium and industrial
gas turbines for €1.1 billion.[67][68] On 11 February 2003, Siemens planned to shorten phones' shelf life
by bringing out annual Xelibri lines, with new devices launched as spring -summer and autumn-winter
collections.[69] On 6 March 2003, the company opened an office in San Jose.[70] On 7 March 2003, the
company announced that it planned to gain 10 per cent of the mainland China market for handsets.[71] On
18 March 2003, the company unveiled the latest in its series of Xelibri fashion phones.[72]

In 2004, the wind energy company Bonus Energy in Brande, Denmark was acquired,[73][74] forming
Siemens Wind Power division.[75] Also in 2004, Siemens invested in Dasan Networks (South Korea,
broadband network equipment) acquiring ~40% of the shares,[76] Nokia Siemens disinvested itself of the
shares in 2008.[77] The same year Siemens acquired Photo-Scan (UK, CCTV systems),[78] US Filter
Corporation (water and Waste Water Treatment Technologies/ Solutions, acquired from Veolia),[79]
Huntsville Electronics Corporation (automobile electronics, acquired from Chrysler),[80] and Chantry
Networks (WLAN equipment).[81]

In 2005, Siemens sold the Siemens mobile manufacturing business to BenQ, forming the BenQ-Siemens
division. Also in 2005 Siemens acquired Flender Holding GmbH (Bocholt, Germany, gears/industrial
drives),[82] Bewator AB (building security systems),[83] Wheelabrator Air Pollution Control, Inc.
(Industrial and power station dust control systems),[84] AN Windenergie GmbH. (Wind energy),[85]
Power Technologies Inc. (Schenectady, USA, energy industry software and training),[86] CTI Molecular
Imaging (Positron emission tomography and molecular imaging systems),[87][88] Myrio (IPTV systems),
Shaw Power Technologies International Ltd (UK/USA, electrical engineering consulting, acquired from
Shaw Group),[89][90] and Transmitton (Ashby de la Zouch UK, rail and other industry control and asset
management).[91]

2005 and continuing: worldwide bribery scandal

Beginning in 2005, Siemens became embroiled in a multi-national bribery scandal.[92] Among the various
incidents was the Siemens Greek bribery scandal, where the company was accused of deals with Greek
government officials during the 2004 Summer Olympics. This case, along with others, triggered legal
investigations in Germany, initiated by prosecutors in Italy, Liechtenstein, and Switzerland, and later
followed by an American investigation in 2006 due to the company's activities while listed on US stock
exchanges.[93]

Investigations found that Siemens had a pattern of bribing officials to secure contracts, with the company
spending approximately $1.3 billion on bribes across several countries, and maintaining separate
accounting records to conceal this. Following the investigations, Siemens settled in December 2008,
paying a combined total of approximately $1.6 billion to the US and Germany in what was, at the time,
the largest bribery fine in history.[93] In addition, the company was required to invest $1 billion in
developing and maintaining new internal compliance procedures. Siemens admitted to violating the
accounting provisions of the Foreign Corrupt Practices Act, while its Bangladesh and Venezuela
subsidiaries pleaded guilty to paying bribes.[94]

Despite initial expectations of a fine as high as $5 billion, the final amount was significantly less, in part
due to Siemens's cooperation with the investigators, the upcoming change in the US administration, and
Siemens's role as a US military contractor.[95] The payments included $450 million in fines and penalties
and a forfeiture of $350 million in profits in the US. Siemens also revamped its compliance systems,
appointing Peter Y. Solmssen, a US lawyer, as an independent director in charge of compliance and
accepting oversight from Theo Waigel, a former German finance minister. Siemens implemented new
anti-corruption policies, including a comprehensive anti-corruption handbook, online tools for due
diligence and compliance, a confidential communications channel for employees, and a corporate
disciplinary committee. This process involved hiring approximately 500 full-time compliance personnel
worldwide.[96]

Siemens's bribery culture was not new; it was highlighted as far back as 1914 when both Siemens and
Vickers were involved in a scandal over bribes paid to Japanese naval authorities.[97] The company
resorted to bribery as it sought to expand its business in the developing world after World War II. Up until
1999, bribes were a tax-deductible business expense in Germany, with no penalties for bribing foreign
officials. However, with the implementation of the 1999 OECD Anti-Bribery Convention, Siemens
started using off-shore accounts to hide its bribery.

During the investigation, key player Reinhard Siekaczek, a mid-level executive in the
telecommunications unit, provided critical evidence. He disclosed that he had managed an annual global
bribery budget of $40 to $50 million and provided information about the company's 2,700 worldwide
contractors, who were typically used to channel money to government officials. Notable instances of
bribery included substantial payments in Argentina, Israel, Venezuela, China, Nigeria, and Russia to
secure large contracts.[93]
The investigation resulted in multiple prosecutions and settlements with various governments, as well as
legal action against Siemens employees and those who received bribes. Noteworthy cases include the
conviction of two former executives in 2007 for bribing Italian energy company Enel, a settlement with
the Greek government in 2012 for 330 million euros over the Greek bribery scandal, and a guilty plea in
2014 from former Siemens executive Andres Truppel for channeling nearly $100 million in bribes to
Argentine government officials.[98] Siemens also faced repercussions from the World Bank due to
fraudulent practices by its Russian affiliate. In 2009, Siemens agreed not to bid on World Bank projects
for two years and to establish a $100 million fund at the World Bank to support anti-corruption activities
over 15 years, known as the "Siemens Integrity Initiative." Other substantial fines include a payment of
₦7 billion (US$46.57 million) to the Nigerian government in 2010, and a US$42.7 million penalty in
Israel in 2014 to avoid charges of securities fraud.

2006 to 2011
In 2006, Siemens purchased Bayer Diagnostics which was incorporated into the Medical Solutions
Diagnostics division on 1 January 2007,[99] also in 2006 Siemens acquired Controlotron (New York)
(ultrasonic flow meters),[100][101] and also in 2006 Siemens acquired Diagnostic Products Corp., Kadon
Electro Mechanical Services Ltd. (now TurboCare Canada Ltd.), Kühnle, Kopp, & Kausch AG, Opto
Control, and VistaScape Security Systems.[102]

In January 2007, Siemens was fined €396 million by the European Commission for price fixing in EU
electricity markets through a cartel involving 11 companies, including ABB, Alstom, Fuji Electric,
Hitachi Japan, AE Power Systems, Mitsubishi Electric Corp, Schneider, Areva, Toshiba and VA Tech.[103]
According to the commission, "between 1988 and 2004, the companies rigged bids for procurement
contracts, fixed prices, allocated projects to each other, shared markets and exchanged commercially
important and confidential information."[103] Siemens was given the highest fine of €396 million, more
than half of the total, for its alleged leadership role in the activity.

In March 2007, a Siemens board member was temporarily arrested

and accused of illegally financing AUB, a business-friendly labour
association which competes against the trade union IG Metall. He
was released on bail. Offices of AUB and Siemens were searched.
Siemens denied any wrongdoing.[104][105]

In April the Fixed Networks, Mobile Networks and Carrier

Services divisions of Siemens merged with Nokia's Network
Business Group in a 50/50 joint venture, creating a fixed and
Siemens power generating wind
mobile network company called Nokia Siemens Networks. Nokia
turbine towers
delayed the merger[106] due to bribery investigations against
Siemens.[107] In October 2007, a court in Munich found that the
company had bribed public officials in Libya, Russia, and Nigeria in return for the awarding of contracts;
four former Nigerian Ministers of Communications were among those named as recipients of the
payments. The company admitted to having paid the bribes and agreed to pay a fine of 201 million euros.
In December 2007, the Nigerian government cancelled a contract with Siemens due to the bribery
findings.[108][109]
Also in 2007, Siemens acquired Vai Ingdesi Automation (Argentina, Industrial Automation), UGS Corp.,
Dade Behring, Sidelco (Quebec, Canada), S/D Engineers Inc., and Gesellschaft für Systemforschung und
Dienstleistungen im Gesundheitswesen mbH (GSD) (Germany).[110]

In July 2008, Siemens AG formed a joint venture of the Enterprise Communications business with the
Gores Group, renamed Unify in 2013. The Gores Group holding a majority interest of 51% stake, with
Siemens AG holding a minority interest of 49%.[111]

In August 2008, Siemens Project Ventures invested $15 million in the Arava Power Company. In a press
release published that month, Peter Löscher, president and CEO of Siemens AG said: "This investment is
another consequential step in further strengthening our green and sustainable technologies". Siemens now
holds a 40% stake in the company.[112]

In January 2009, Siemens sold its 34% stake in Framatome, complaining limited managerial influence. In
March, it formed an alliance with Rosatom of Russia to engage in nuclear-power activities.[30]

In April 2009, Fujitsu Siemens Computers became Fujitsu Technology Solutions as a result of Fujitsu
buying out Siemens's share of the company.

In June 2009 news broke that Nokia Siemens had supplied telecommunications equipment to the Iranian
telecom company that included the ability to intercept and monitor telecommunications, a facility known
as "lawful intercept". The equipment was believed to have been used in the suppression of the 2009
Iranian election protests, leading to criticism of the company, including by the European Parliament.
Nokia Siemens later divested its call monitoring business, and reduced its activities in
Iran.[113][114][115][116][117][118]

In October 2009, Siemens signed a $418 million contract to buy Solel Solar Systems, an Israeli company
in the solar thermal power business.[119]

In December 2010, Siemens agreed to sell its IT Solutions and Services subsidiary for €850 million to
Atos. As part of the deal, Siemens agreed to take a 15% stake in the enlarged Atos, to be held for a
minimum of five years. In addition, Siemens concluded a seven-year outsourcing contract worth around
€5.5 billion, under which Atos will provide managed services and systems integration to Siemens.[120] At
the same time, Germany’s Wegmann Group acquired Siemens's 49-percent stake in armored vehicle
manufacturer Krauss-Maffei Wegmann GmbH, establishing Wegmann as the sole shareholder of KMW,
pending approval by government authorities.[121][120]

2011 to present
In March 2011, it was decided to list Osram on the stock market in the autumn, but CEO Peter Löscher
said Siemens intended to retain a long-term interest in the company, which was already independent from
the technological and managerial viewpoints.

In September 2011, Siemens, which had been responsible for constructing all 17 of Germany's existing
nuclear power plants, announced that it would exit the nuclear sector following the Fukushima disaster
and the subsequent changes to German energy policy. Chief executive Peter Löscher has supported the
German government's planned Energiewende, its transition to renewable energy technologies, calling it a
"project of the century" and saying Berlin's target of reaching 35% renewable energy sources by 2020
was feasible.[122]
In November 2012, Siemens acquired the Rail division of
Invensys for £1.7 billion. In the same month, Siemens acquired a
privately held company, LMS International NV.[123]

In August 2013, Nokia acquired 100% of the company Nokia

Siemens Networks, with a buy-out of Siemens AG, ending
Siemens role in telecommunication.[124]

In August 2013, Siemens won a $966.8 million order for power Roland Busch has served as the
plant components from oil firm Saudi Aramco, the largest bid it company's CEO since 2021
has ever received from the Saudi company.[125]

In 2014, Siemens announced plans to build a $264 million facility for making offshore wind turbines in
Paull, England, as Britain's wind power rapidly expands. Siemens chose the Hull area on the east coast of
England because it is close to other large offshore projects planned in coming years. The new plant is
expected to begin producing turbine rotor blades in 2016. The plant and the associated service center, in
Green Port Hull nearby, will employ about 1,000 workers. The facilities will serve the UK market, where
the electricity that major power producers generate from wind grew by about 38 percent in 2013,
representing about 6 percent of total electricity, according to government figures. There are also plans to
increase Britain's wind-generating capacity at least threefold by 2020, to 14 gigawatts.[126]

In May 2014, Rolls-Royce agreed to sell its gas turbine and compressor energy business to Siemens for
£1 billion.[127]

In June 2014, Siemens and Mitsubishi Heavy Industries announced their formation of joint ventures to
bid for Alstom's troubled energy and transportation businesses (in locomotives, steam turbines, and
aircraft engines). A rival bid by General Electric (GE) has been criticized by French government sources,
who consider Alstom's operations as a "vital national interest" at a moment when the French
unemployment level stands above 10% and some voters are turning towards the far-right.[128]

In 2015, Siemens acquired U.S. oilfield equipment maker Dresser-Rand Group Inc for $7.6
billion.[129][130]

In November 2016, Siemens acquired EDA company Mentor Graphics for $4.5 billion.[131]

In November 2017, the U.S. Department of Justice charged three Chinese employees of Guangzhou Bo
Yu Information Technology Company Limited with hacking into corporate entities, including Siemens
AG.[132]

In December 2017, Siemens acquired the medical technology company Fast Track Diagnostics for an
undisclosed amount.[133]

In August 2018, Siemens acquired rapid application development company Mendix for €0.6 billion in
cash.[134]

In May 2018, Siemens acquired J2 Innovations for an undisclosed amount.[135][136]

In May 2018, Siemens acquired Enlighted, Inc. for an undisclosed amount.[137]

In September 2019, Siemens and Orascom Construction signed an agreement with the Iraqi government
to rebuild two power plants, which is believed to set up the company for future deals in the country.[138]

In 2019–2020, Siemens was identified as a key engineering company supporting the controversial[139]
Adani Carmichael coal mine in Queensland (Australia).[140]

In January 2020, Siemens signed an agreement to acquire 99% equity share capital of Indian switchgear
manufacturer C&S Electric at €267 million (₹2,100 crore).[141] The takeover was approved by the
Competition Commission of India in August 2020.[142]

In April 2020, Siemens acquired a 77% majority stake in Indian building solution provider iMetrex
Technologies for an undisclosed sum.[143]

In April 2020, Siemens Energy was created as an independent company out of the energy division of
Siemens.[144] In August 2020, Siemens Healthineers AG announced that it plans to acquire U.S. cancer
device and software company Varian Medical Systems in an all-stock deal valued at $16.4 billion.[145]

In February 2021, Roland Busch replaced Joe Kaeser as CEO.[146]

In October 2021, Siemens acquired the building IoT software and hardware company Wattsense for an
undisclosed sum.[147]

In May 2022, Siemens made the decision to cease its operations in Russia after 170 years and disassociate
itself from any involvement with the Russian government due to the ongoing war of aggression against
Ukraine. This decision affected the approximately 3,000 employees working for the company in the
country. The announcement came with a financial statement in which Siemens disclosed a second-quarter
loss of approximately US$625 million as a direct consequence of the imposed sanctions on Russia.[148]

In July 2022, Siemens acquired ZONA Technology, an aerospace simulation firm.[149]

In October 2022, Siemens announced a strategic partnership with Swedish electric commercial vehicle
manufacturer Volta Trucks to deliver and scale eMobility charging infrastructure to simplify the transition
to fleet electrification.[150]

In October 2022, Siemens became a target of the Boycott, Divestment and Sanctions movement due to its
award of a contract for the EuroAsia Interconnector,[151][152] which is planned to connect the electricity
grids of Greece and Cyprus with both Israel and its illegal settlements in the West Bank.[153]

In June 2023, Siemens announced a global investment plan of €2 billion to expand its manufacturing
capacity, including specific commitments of €200 million for a new high-tech plant in Singapore and
€140 million to enlarge a facility in Chengdu, China. The strategy aims to foster diversification across
Asia, enhance growth in the Chinese market, and decrease dependency on a single country by utilizing
Singapore as a primary export hub to Southeast Asia.[154] Simultaneously, Siemens will allocate €1
billion for the development of new facilities and factories in Germany, including €500 million for the
expansion and modernization of a factory in Erlangen, expected to enhance production capacity by 60%
by 2029. This coincides with the German government's concerns about the economic and security risks
associated with investing in China. Additional German investments will finance a new semiconductor
factory in Forchheim and a training center for Siemens Healthineers in Erlangen.[155]
In August 2023, it was announced Siemens had signed an agreement to acquire the Veldhoven-
headquartered eBus, eTruck and passenger vehicle fast charging technology company, Heliox.[156]

In March 2024, Siemens announced the creation of a new £100m digital engineering facility in Wiltshire,
UK, aimed at replacing its existing rail infrastructure factory in Chippenham with a new research and
development centre, expected to open by 2026. The move is endorsed by Chancellor Jeremy Hunt as "a
big boost" for UK manufacturing.[157]

In March 2024, it was announced Siemens had agreed to acquire ebm-papst's industrial drive technology
(IDT) division for undisclosed amount.[158]

Operations
As of 2023, the principal divisions of Siemens are Digital Sales by business (2023)[159]
Industries, Smart Infrastructure, Siemens Mobility, Siemens Business share
Healthineers and Siemens Financial Services, with Siemens
Healthineers and Siemens Mobility operating as independent Siemens Healthineers 27.7%

entities. Siemens also operates a number of "Portfolio Companies" Digital Industries 27.6%
[6]
with market-specific offerings. In 2020, the energy business was Smart Infrastructure 25.2%
spun off into the separate Siemens Energy AG, with Siemens Mobility 13.5%
retaining a stake of 17.1% as of December 2023.[160] Other
business units of the company include Siemens Technology (T) for Portfolio Companies 4.0%

research and development, Siemens Real Estate (SRE) for Reconciliation 1.4%
corporate real estate management, Siemens Advanta for consulting Siemens Financial Services 0.6%
services (including the management consulting division Siemens
Advanta Consulting), next47 as a venture capital fund, and Siemens Global Business Services (GBS) as a
shared services unit.[6]

Digital Industries
The Digital Industries division focuses on the automation needs of discrete and process industries. This
includes factory automation infrastructure, numerical control systems, engines, drives, inverters,
integrated automation systems for machine tools and production machines, and machine to machine
communication products. The division also develops industrial control systems, various types of sensors,
and radio-frequency identification systems.[6] In industrial automation and industrial software, Siemens is
the global market leader.[8]

In addition to hardware, Digital Industries supplies software for product lifecycle management (PLM),
simulation and testing of mechatronic systems, and the MindSphere cloud-based IoT operating system
that connects physical infrastructure to the digital world. The software portfolio is supplemented by the
Mendix platform for low-code application development and digital marketplaces like Supplyframe and
Pixeom. Key customer markets span automotive, machine building, pharmaceuticals, chemicals, food and
beverage, electronics, and semiconductors.[6]

In 2023, CEO Roland Busch announced the aim to raise software businesses sales share to 20% in the
long term.[161] In June 2023, Siemens launched a new open digital platform called "Siemens Xcelerator",
which houses a curated portfolio of IoT-enabled hardware, software, and digital services from both
Siemens and third parties. Siemens also announced a partnership with Nvidia, aiming to leverage its
Omniverse platform with its 3D design capabilities. Xcelerator is part of a broader industry trend towards
digital environments ("metaverses"), and is delivered through a software as a service (SaaS) subscription
model, targeting accessibility for a range of businesses including small and medium-sized
enterprises.[162]

Smart Infrastructure
Siemens Smart Infrastructure offerings are categorized into buildings, electrification, and electrical
products. Its buildings portfolio includes building automation systems, heating, ventilation, and air
conditioning (HVAC) controls, and fire safety and security systems, and energy performance services.
The electrification portfolio is dedicated to grid resilience and efficiency, encompassing grid simulation,
operation control software, power-system automation and protection, and medium to low voltage
switchgear. Moreover, it includes charging infrastructure for electric vehicles. In the realm of electrical
products, the division offers low-voltage switching, measuring and control equipment, distribution
systems, and medium voltage switchgear.[6]

In the renewable energy industry, the company provides a portfolio of products and services to help build
and operate microgrids of any size. It provides generation and distribution of electrical energy as well as
monitoring and controlling of microgrids.[163] By using primarily renewable energy, microgrids reduce
carbon-dioxide emissions, which is often required by government regulations. It supplied a sustainable
storage product and microgrids to Enel Produzione SPA for the island of Ventotene in Italy.[163]

A Siemens high-voltage A Siemens wind power A Siemens

transformer generator steam turbine
rotor

Siemens Mobility
Siemens Mobility is a division involved in passenger and freight transportation. This includes providing
rolling stock, which covers a range of vehicles for urban, regional, and long-distance travel. The division
also offers rail infrastructure products and services such as rail automation, digital station solutions,
railway communication systems, and yard and depot solutions.[6]

In 2019, the European Commission blocked a merger between Alstom and Siemens Mobility, citing anti-
trust regulations. The plan would have seen the creation of a "European champion" to compete with
China's CRRC.[164]
Siemens C651 trains Amtrak Siemens SC- A Siemens Bangkok Skytrain built by
operate by Singapore 44 Charger diesel- Desiro train Siemens
MRT electric passenger in operation
locomotive parked in
Santa Fe Depot, San
Diego

Siemens Healthineers
Siemens Healthineers AG is a publicly listed company that was
spun off from Siemens in 2017. As of 2022, Siemens retains a
75% majority stake in Siemens Healthineers.[6]

As a global provider of healthcare solutions and services, its range

of offerings includes the manufacture and sale of diagnostic and
therapeutic products, clinical consulting, and a variety of training
services. Its operations are divided into four main sectors:
imaging, diagnostics, Varian Medical Systems, and advanced A Siemens SPECT/CT scanner in
therapies. Imaging includes magnetic resonance, computed operation
tomography, X-ray, molecular imaging, and ultrasound devices.
The diagnostics segment offers in-vitro diagnostic products for
laboratory and point-of-care settings. Varian, an American company acquired by Siemens Healthineers in
2021, covers technologies related to cancer care, and advanced therapies focus on image-guided
minimally invasive procedures.[6]

Siemens Financial Services

Siemens Financial Services (SFS) is a division that delivers a range of financing solutions. These services
target both Siemens's customers and external companies, including debt and equity investments. It
provides leasing, lending, working capital, structured financing, and equipment and project financing
solutions. SFS is also involved in providing financial advisory services and risk management expertise to
Siemens's industrial businesses, helping assess risk profiles of projects and business models.[6]

Former operations
Siemens is known for actively refining its core business through strategic divestitures, pursuing a strategy
referred to as "Corporate Clarity" that focuses on selling non-core aspects of the business.[165] Major
business divisions that were once part of Siemens before being spun off include:

Deutsche Grammophon/Polydor Records (1987)

Infineon Technologies (1999)
Siemens Mobile (2005)
Gigaset Communications (2008)
Osram (2013)
Siemens Energy (2020)

Joint ventures
Siemens's current joint ventures include:

Siemens Traction Equipment Ltd. (STEZ), Zhuzhou China, is a joint venture between
Siemens, Zhuzhou CSR Times Electric Co., Ltd. (TEC) and CSR Zhuzhou Electric
Locomotive Co., Ltd. (ZELC), which produces AC drive electric locomotives and AC
locomotive traction components.[166]
OMNETRIC Group, A Siemens & Accenture company formed in 2014.[167]
Former joint ventures in which Siemens no longer holds any equity include:

Fujitsu Siemens Computers (sold to Fujitsu in 2009)

Nokia Siemens Networks (sold to Nokia in 2013)
BSH Hausgeräte (sold to Bosch in 2014)
Primetals Technologies (sold to Mitsubishi Heavy Industries in 2019).
Silcar was a joint venture between Siemens Ltd and Thiess Services Pty Ltd until 2013.
Silcar is a 3,000 person Australian organisation providing productivity and reliability for large
scale and technically complex plant assets. Services include asset management, design,
construction, operations and maintenance. Silcar operates across a range of industries and
essential services including power generation, electrical distribution, manufacturing, mining
and telecommunications. In July 2013, Thiess took full control.[168][169][170]

Corporate affairs
Siemens is incorporated in Germany and has its corporate headquarters at the Wittelsbacherplatz in
central Munich.[171]

Business trends
For the fiscal year 2023, Siemens reported a revenue of €77.7 Sales by region (2023)[159]
billion, an increase of 8% over the previous fiscal cycle.[2] In Region share
December 2023, Siemens's shares traded at over US$93 per Europe, CIS, Africa, Middle East 29.7%
share, and its market capitalization was valued at US$147
United States 24.5%
billion.[172] According to an Ernst & Young study published in
December 2023, Siemens and SAP were the only German Asia, Australia 22.1%
companies of the top 100 most valuable companies by market Germany 19.0%
capitalization worldwide.[10] Americas 4.6%

The key trends of Siemens are (as at the financial year ending
September 30):[173][174][175]
Revenue Net income Total assets
Year Employees
in €billion in €billion in €billion

2013 75.8 4.2 101 362,000

2014 71.9 5.3 104 357,000

2015 75.6 7.2 120 348,000

2016 79.6 5.4 125 351,000

2017 83.0 6.0 133 372,000

2018 83.0 5.8 138 379,000

2019 86.8 5.1 150 385,000

2020* 57.1 4.0 123 293,000

2021 62.2 6.1 139 295,000

2022 71.9 3.7 151 311,000

2023 77.7 7.9 145 320,000

* In 2020, Siemens Energy became an independent company.

Locations
As of 2011, Siemens has operations in around 190 countries and approximately 285 production and
manufacturing facilities.[171]

Siemens's headquarters, Siemens office building Siemens-Tower in Berlin-

Munich (front) in Munich-Giesing Siemensstadt

"Wernerwerk" (Werner's Wernerwerk II in Wernerwerk XV in Berlin-

Factory) in Berlin- Berlin-Siemensstadt Siemensstadt
Siemensstadt
Siemens office building in Siemens office Siemens site in Munich-
Erlangen building in Perlach
Erlangen

Former Siemens Gas

Turbine Factory (now
Siemens Energy),
formerly Ruston &
Hornsby Pelham
Works, Lincoln,
England

Research and development

In 2023, Siemens invested a total of €6.1 billion in research and development.[2] As of 30 September
2022, Siemens had approximately 46,900 employees engaged in research and development and held
approximately 43,600 patents worldwide.[6]

Leadership
Chairmen of the Siemens-Schuckertwerke Managing Board (1903 to 1966)[176]

Alfred Berliner (1903 to 1912)

Carl Friedrich von Siemens (1912 to 1919)
Otto Heinrich (1919 to 1920)
Carl Köttgen (1920 to 1939)
Rudolf Bingel (1939 to 1945)
Wolf-Dietrich von Witzleben (1945 to 1949)
Günther Scharowsky (1949 to 1951)
Friedrich Bauer (1951 to 1962)
Bernhard Plettner (1962 to 1966)
Chairmen of the Siemens & Halske / Siemens-Schuckertwerke Supervisory Board (1918 to
1966)[176]

Wilhelm von Siemens (1918 to 1919)

Carl Friedrich von Siemens (1919 to 1941)
Hermann von Siemens (1941 to 1946)
Friedrich Carl Siemens (1946 to 1948)
Hermann von Siemens (1948 to 1956)
Ernst von Siemens (1956 to 1966)
Chairmen of Siemens AG's managing board (1966 to present)[176]

Hans Kerschbaum, Adolf Lohse, Bernhard Plettner (presidency of the managing board)
(1966 to 1967)
Erwin Hachmann, Bernhard Plettner, Gerd Tacke (presidency of the managing board) (1967
to 1968)
Gerd Tacke (1968 to 1971)
Bernhard Plettner (1971 to 1981)
Karlheinz Kaske (1981 to 1992)
Heinrich von Pierer (1992 to 2005)
Klaus Kleinfeld (2005 to 2007)
Peter Löscher (2007 to 2013)
Joe Kaeser (2013 to 2021)
Roland Busch (2021 to present)
Chairmen of the Siemens AG Supervisory Board (1966 to present)[176]

Ernst von Siemens (1966 to 1971)

Peter von Siemens (1971 to 1981)
Bernhard Plettner (1981 to 1988)
Heribald Närger (1988 to 1993)
Hermann Franz (1993 to 1998)
Karl-Hermann Baumann (1998 to 2005)
Heinrich von Pierer (2005 to 2007)
Gerhard Cromme (2007 to 2018)
Jim Hagemann Snabe (2018 to present)
Managing Board (present day)[177][178]

Roland Busch (CEO Siemens AG)

Klaus Helmrich
Cedrik Neike (CEO Digital Industries)
Matthias Rebellius (CEO Smart Infrastructure)
Ralf P. Thomas (CFO)
Judith Wiese

Shareholders
The company has issued 881,000,000 shares of common stock. The largest single shareholder continues
to be the founding shareholder, the Siemens family, with a stake of 6.9%, while 62% is held by
institutional asset managers, the largest being two divisions of the world's largest asset manager
BlackRock. Moreover, 83.97% of the shares are considered public float, however including such strategic
investors as the State of Qatar (DIC Company Ltd.) with 3.04%, the Government Pension Fund of
Norway with 2.5% and Siemens AG itself with 3.04%; and 19% are held by private investors, 13% by
investors that are considered unidentifiable. In terms of nationality, 26% are owned by German investors,
21% by US investors, followed by the UK (11%), France (8%), Switzerland (8%) and a number of others
(26%).[179]

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of July 2015

Further reading
Bundesarchiv Berlin, NS 19, No. 968, Communication on the creation of the barracks for the
Siemens & Halske, the planned production and the planned expansion for 2,500 prisoners
"after direct discussions with this company": Economic and Administrative Main Office of the
SS (WVHA), Oswald Pohl, secretly, to Reichsführer SS (RFSS), Heinrich Himmler, dated 20
October 1942.
Margarete Buber (1993). 303f: As prisoners of Stalin and Hitler, Frankfurt am Main; Berlin.
Wilfried Feldenkirchen: 1918–1945 Siemens, Munich 1995, Ulrike fire, Claus Füllberg-
Stolberg, Sylvia Kempe: work at Ravensbrück concentration camp, in: Women in
concentration camps. Bergen-Belsen. Ravensbrück, Bremen, 1994, pp. 55–69
Feldenkirchen, Wilfried (2000). Siemens: From Workshop to Global Player, Munich.
Feldenkirchen, Wilfried, and Eberhard Posner (2005). The Siemens Entrepreneurs:
Continuity and Change, 1847–2005. Ten Portraits, Munich.
Greider, William (1997). One World, Ready or Not. Penguin Press. ISBN 0-7139-9211-5.
Sigrid Jacobeit: working at Siemens in Ravensbrück, in: Dietrich Eichholz (eds) War and
economy. Studies on German economic history 1939–1945, Berlin 1999.
Ursula Krause-Schmitt: The path to the Siemens stock led past the crematorium, in:
Information. German Resistance Study Group, Frankfurt / Main, 18 Jg, No. 37/38, Nov.
1993, pp. 38–46
MSS in the estate include Wanda Kiedrzy'nska, in: National Library of Poland, Warsaw,
Manuscript Division, Sygn. akc 12013/1 and archive the memorial I/6-7-139 RA. * Woman
Ravensbruck concentration camp. An overall presentation, State Justice Administration in
Ludwigsburg, IV ART 409-Z 39/59, April 1972, pp. 129ff.
Karl-Heinz Roth: "Forced labor in the Siemens Group (1938-1945): Facts, controversies,
problems". In: Hermann Kaienburg (ed.): concentration camps and the German Economy
1939–1945 (Social studies, H. 34), Opladen 1996, pp. 149–168
Karl-Heinz Roth: forced labor in the Siemens Group, with a summary table, page 157 See
also Ursula Krause-Schmitt: "The road to Siemens stock led to the crematorium past over,"
pp. 36f, where, according to the catalogs of the International Tracing Service Arolsen and
Martin Weinmann (eds.). The Nazi camp system, Frankfurt / Main 1990 and Feldkirchen:
Siemens 1918–1945, pp. 198–214, and in particular the associated annotations 91–187.
Carola Sachse: "Jewish forced labor and non-Jewish women and men at Siemens from
1940 to 1945", in: International Scientific Correspondence, No. 1/1991, pp. 12–24
Shaping the Future: The Siemens Entrepreneurs 1847–2018. Ed. Siemens Historical
Institute, Hamburg 2018, ISBN 9-783867-746243.
Weiher, Siegfried von /Herbert Goetzeler (1984). The Siemens Company, Its Historical Role
in the Progress of Electrical Engineering 1847–1980, 2nd ed. Berlin and Munich.

External links

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