Germany’s Siemens sees industrial goods demand stabilizing, 2010 orders steady
By APFriday, March 26, 2010
Siemens sees industrial demand stabilizing
FRANKFURT — Siemens AG says it expects demand for products from its industrial division to stabilize this year after the economic downturn hit spending on big-ticket items.
Munich-based Siemens said Friday that — assuming there is a steady economic recovery — new orders in the sector should reach the level of its 2009 fiscal year, which ended in September. It expects revenue for the company’s biggest division to fall slightly.
In the last fiscal year, Siemens’ industry sector had orders of €33.3 billion ($45 billion) and revenue of nearly €34 billion.
The industrial sector includes building technologies, transport systems, and the Osram lighting unit.
Siemens shares were down 0.4 percent at €73.47 in Frankfurt.
