Siemens

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Siemens AG
TypeAktiengesellschaft
Traded asFWBSIE, NYSESI
IndustryConglomerate
FoundedOctober 1, 1847 (1847-10-01) (Berlin)
Founder(s)Werner von Siemens
HeadquartersMunich, Germany
Area servedWorldwide
Key peoplePeter Löscher
(President and CEO)
Joe Kaeser
(CFO)
Gerhard Cromme
(Chairman of the supervisory board)
ProductsCommunication systems, power generation technology, industrial and buildings automation, lighting, medical technology, railway vehicles, water treatment systems, home appliances, fire alarms, PLM software
ServicesBusiness services, financing, project engineering and construction
Revenue73.52 billion (2011)[1]
Operating income€7.958 billion (2011)[1]
Net income€6.145 billion (2011)[1]
Total assets€104.24 billion (2011)[1]
Total equity€31.53 billion (2011)[1]
Employees402,000 (2011)[1]
DivisionsIndustry, Energy, Healthcare, Infrastructure and Cities
Websitewww.siemens.com
 
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Siemens AG
TypeAktiengesellschaft
Traded asFWBSIE, NYSESI
IndustryConglomerate
FoundedOctober 1, 1847 (1847-10-01) (Berlin)
Founder(s)Werner von Siemens
HeadquartersMunich, Germany
Area servedWorldwide
Key peoplePeter Löscher
(President and CEO)
Joe Kaeser
(CFO)
Gerhard Cromme
(Chairman of the supervisory board)
ProductsCommunication systems, power generation technology, industrial and buildings automation, lighting, medical technology, railway vehicles, water treatment systems, home appliances, fire alarms, PLM software
ServicesBusiness services, financing, project engineering and construction
Revenue73.52 billion (2011)[1]
Operating income€7.958 billion (2011)[1]
Net income€6.145 billion (2011)[1]
Total assets€104.24 billion (2011)[1]
Total equity€31.53 billion (2011)[1]
Employees402,000 (2011)[1]
DivisionsIndustry, Energy, Healthcare, Infrastructure and Cities
Websitewww.siemens.com

Siemens AG (German pronunciation: [ˈziːməns]) is a German multinational conglomerate company headquartered in Munich, Germany. It is the largest Europe-based electronics and electrical engineering company.[2]

Siemens' principal activities are in the fields of industry, energy, transportation and healthcare. It is organized into five main divisions: Industry, Energy, Healthcare, Infrastructure & Cities, and Siemens Financial Services (SFS). Siemens and its subsidiaries employ approximately 360,000 people across nearly 190 countries and reported global revenue of approx 73.5 billion euros for the year of 2011.[3] Siemens has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the New York Stock Exchange.

Contents

History

1847 to 1901

Siemens & Halske was founded by Werner von Siemens on 12 October 1847. Based on the telegraph, his invention used a needle to point to the sequence of letters, instead of using Morse code. The company, then called Telegraphen-Bauanstalt von Siemens & Halske, opened its first workshop on October 12.

In 1848, the company built the first long-distance telegraph line in Europe; 500 km from Berlin to Frankfurt am Main. In 1850 the founder's younger brother, Carl Wilhelm Siemens started to represent the company in London. 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 (Calcutta to London) telegraph line.[4]

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 Kingdom. The company continued to grow and diversified into electric trains and light bulbs. In 1890, the founder retired and left the company to his brother Carl and sons Arnold and Wilhelm.

1901 to 1939

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 Siemens (Siemens & Halske and Siemens-Schuckert) had 34,324 employees and was the seventh-largest company in the German empire by number of employees.[5] (see List of German companies by employees in 1907)

In 1919, S & H and two other companies jointly formed the Osram lightbulb company. A Japanese subsidiary was established in 1923.

During the 1920s and 1930s, S & H started to manufacture radios, television sets, and electron microscopes.

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.[6]

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 under-paid workers only to be overruled by the Cumann na nGaedheal government.[7]

In the 1930s, Siemens was involved in funding the rise of the Nazi Party and the secret rearmament of Germany.[citation needed][disputed ]

1939 to 1945

A Siemens truck being used as a Nazi public address vehicle in 1932

During the second World War, Siemens supported the Hitler regime, contributed to the war effort and participated in the "Nazification" of the economy.[citation needed][disputed ] Siemens had many factories in and around notorious concentration camps[8][9][not in citation given] to build electric switches for military uses.[10] In one example, almost 100,000 men and women from Auschwitz worked in a Siemens factory inside the camp, supplying the electricity to the camp.

In 1972, a German satirist, F. C. Delius, published "Unsere Siemenswelt" (Our Siemens World), a mock history of Siemens. The book was a fake official company publication, which boasted "accomplishments" such as the installation of the crematoria at Auschwitz. Siemens brought Delius to trial and it was determined much of the book contained false claims. A series of depositions, trials, and appeals brought to light the conduct of Siemens during the Nazi regime. Contemporary scholars have been uncovering some of the atrocities of Siemens during this time, including forced and slave labor at Ravensbrück and in the Auschwitz subcamp of Bobrek, among others. Additionally, the company supplied electrical parts to concentration camps and death camps. The factories had poor working conditions, where malnutrition and death were common. Also, 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.[11]

Siemens businessman and Nazi Party member John Rabe is credited with saving many Chinese lives during the Nanking Massacre. He later toured Germany lecturing on the atrocities committed in Nanking.[12]

1945 to 2001

A 1973 Siemens electron microscope on display at the Musée des Arts et Métiers in Paris

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.[6]

In 1969, Siemens formed Kraftwerk Union with AEG by pooling their nuclear power businesses.[13]

The company's first digital telephone exchange was produced in 1980. 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.

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' Energy and Automation division.[14]

In 1987, Siemens reintegrated Kraftwerk Union, the unit overseeing nuclear power business.[13]

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

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

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.[15]

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

In 1999, Siemens' semiconductor operations were spun off into a new company known as Infineon Technologies. Also, Siemens Nixdorf Informationssysteme AG formed part of Fujitsu Siemens Computers AG in that year. The retail banking technology group became Wincor Nixdorf.

In 2000 Shared Medical Systems Corporation[16] was acquired by the Siemens' Medical Engineering Group,[17] eventually becoming part of Siemens Medical Solutions.

Also in 2000 Atecs-Mannesman was acquired by Siemens,[18] 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.[19] Other parts of the company were acquired by Robert Bosch GmbH at the same time.[20]

2001 to 2011

A Siemens Velaro high speed train in service on the Köln–Frankfurt high-speed rail line

In 2001 Chemtech Group of Brazil was incorporated into the Siemens Group,[21] the company provides industrial process optimisation, consultancy and other engineering services[22]

Also in 2001, Siemens formed joint venture Framatome with Areva SA of France by merging much of their nuclear businesses.[13]

In 2003 Siemens acquired the flow division of Danfoss and incorporated it into the Automation and Drives division.[23] Also in 2003 Siemens acquired IndX software (realtime data organisation and presentation).[24][25] The same year in an unrelated development Siemens reopened its office in Kabul.[26] Also in 2003 agreed to buy Alstom Industrial Turbines; a manufacturer of small, medium and industrial gas turbines for 1.1 billion Euro.[27][28]

In 2004 the wind energy company Bonus Energy in Brande, Denmark was acquired,[29][30] forming Siemens Wind Power division.[31] Also in 2004 Siemens invested in Dasan Networks (South Korea, broadband network equipment) acquiring ~40% of the shares,[32] Nokia Siemens disinvested itself of the shares in 2008.[33] The same year Siemens acquired Photo-Scan (UK, CCTV systems)[34] US Filter Corporation (water and Waste Water Treatment Technologies/ Solutions, acquired from Veolia),[35] Hunstville Electronics Corporation (automobile electronics, acquired from Chrysler),[36] and Chantry Networks (WLAN equipment)[37]

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),[38] Bewator AB (building security systems),[39] Wheelabrator Air Pollution Control, Inc. (Industrial and power station dust control systems),[40] AN Windenegrie GmbH. (Wind energy),[41] Power Technologies Inc. (Schenectady, USA, energy industry software and training),[42] CTI Molecular Imaging (Positron emission tomography and molecular imaging systems),[43][44] Myrio (IPTV systems),[45] Shaw Power Technologoes International Ltd (UK/USA, electrical engineering consulting, acquired from Shaw Group),[46][47] and Transmitton (Ashby de la Zouch UK, rail and other industry control and asset management).[48]

In 2006, Siemens announced the purchase of Bayer Diagnostics, which was incorporated into the Medical Solutions Diagnostics division on 1 January 2007,[citation needed] also in 2006 Siemens acquired Controlotron (New York) (ultrasonic flow meters)[49][50] 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[51]

Siemens power generating wind turbine towers

In March 2007 a Siemens board member was temporarily arrested and accused of illegally financing a business-friendly labour association which competes against the union IG Metall. He has been released on bail. Offices of the labour union and of Siemens have been searched. Siemens denies any wrongdoing.[52] 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 mobile network company called Nokia Siemens Networks. Nokia delayed the merger[53] due to bribery investigations against Siemens.[54] 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.[55][56]

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).

In July 2008, Siemens AG announced a joint venture of the Enterprise Communications business with the Gores Group. The Gores Group holding a majority interest of 51% stake, with Siemens AG holding a minority interest of 49%.[57]

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. [58]

In January 2009, Siemens announced to sell its 34% stake in Framatome, complaining limited managerial influence. In March, it announced to form an alliance with Rosatom of Russia to engage in nuclear-power activities.[13]

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

In October 2009, Siemens signed a $418-million contract to buy Solel Solar Systems an Israeli company in the solar thermal power business.[59]

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.

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 in German energy policy.[60]

Products and services

Siemens offers a wide range of electrical engineering- and electronics-related products and services.[61] Its products can be broadly divided into the following categories: buildings-related products; drives, automation and industrial plant-related products; energy-related products; lighting; medical products; and transportation and logistics-related products.[61]

Siemens' buildings-related products include building automation equipment and systems; building operations equipment and systems; building safety equipment and systems; building security equipment and systems; and low-voltage switchgear including circuit protection and distribution products.[61]

Siemens' drives, automation and industrial plant-related products include motors and drives for conveyor belts; pumps and compressors; heavy duty motors and drives for rolling steel mills; compressors for oil and gas pipelines; mechanical components including gears for wind turbines and cement mills; automation equipment and systems and controls for production machinery and machine tools; and industrial plant for water processing and raw material processing.[61]

Siemens' energy-related products include gas and steam turbines; generators; compressors; on- and offshore wind turbines; high-voltage transmission products; power transformers; high-voltage switching products and systems; alternating and direct current transmission systems; medium-voltage components and systems; and power automation products.[61]

Siemens' OSRAM subsidiary produces lighting products including incandescent, halogen, compact fluorescent, fluorescent, high-intensity discharge and Xenon lamps; opto-electronic semiconductor light sources such as light emitting diodes (LEDs), organic LEDs, high power laser diodes, LED systems and LED luminaires; electronic equipment including electronic ballasts; lighting control and management systems; and related precision components.[61]

Siemens' medical products include clinical information technology systems; hearing instruments; in-vitro diagnostics equipment; imaging equipment including angiography, computed tomography, fluoroscopy, magnetic resonance, mammography, molecular imaging ultrasound, and x-ray equipment; and radiation oncology and particle therapy equipment.[61]

Siemens' transportation and logistics-related products include equipment and systems for rail transportation including rail vehicles for mass transit, regional and long-distance transportation, locomotives, equipment and systems for rail electrification, central control systems, interlockings, and automated train controls; equipment and systems for road traffic including traffic detection, information and guidance; equipment and systems for airport logistics including cargo tracking and baggage handling; and equipment and systems for postal automation including letter parcel sorting.[61]

Operations

Siemens' headquarters in Munich

Siemens is incorporated in Germany and has its corporate headquarters in Munich.[62] It has operations in around 190 countries and approximately 285 production and manufacturing facilities.[62] Siemens had around 360,000 employees as of 30 September 2011.[62]

Sectors and divisions

Siemens is organised into four "sectors" and 19 divisions:

In addition two other central divisions, Siemens IT Solutions and Services and Siemens Financial Services,[63][64] provide services to the rest of the company.[65]

Research and development

In 2011 Siemens invested a total of €3.925 billion in research and development, equivalent to 5.3% of revenues.[62] As of 30 September 2011 Siemens had approximately 11,800 Germany-based employees engaged in research and development and approximately 16,000 in the rest of the world, of whom the majority were based in one of Austria, China, Croatia, Denmark, France, India, Mexico, Slovakia, Sweden, Switzerland, the United Kingdom and the United States.[62] As of 30 September 2011 Siemens held approximately 53,300 patents worldwide.[62]

Joint ventures

In addition to the Nokia Siemens telecommunications giant formed in 2006 the company has a number of other joint ventures:

Senior management

Chairmen of the Siemens-Schuckertwerke Managing Board (1903 to 1966)[67]

Chairmen of the Siemens & Halske / Siemens-Schuckertwerke Supervisory Board (1918 to 1966)[67]

Chairmen of the Siemens AG Managing Board (1966 to present)[67]

Chairmen of the Siemens AG Supervisory Board (1966 to present)[67]

Managing Board (present day)[68]

Controversies

2007 price fixing fine

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, among which ABB, Alstom, Fuji, Hitachi Japan, AE Power Systems, Mitsubishi Electric Corp, Schneider, Areva, Toshiba and VA Tech[69] 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."[69] Siemens was given the highest fine of €396 million, more than half of the total, for its alleged leadership role in the incident.

Bribery case

Siemens agreed to pay a record $1.34 billion in fines in December 2008[70] after being investigated for serious bribery. The investigation found questionable payments of roughly €1.3 billion, from 2002 to 2006 that triggered a broad range of inquiries in Germany, the United States and many other countries.[71]

In May 2007 a German court convicted two former executives of paying about €6 million in bribes from 1999 to 2002 to help Siemens win natural gas turbine supply contracts with Enel, an Italian energy company. The contracts were valued at about €450 million. Siemens was fined €38 million.[72]

Iran telecoms controversy

Nokia Siemens 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 2009–2010 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.[73][74][75][76][77][78]

Greek bribes, greek metro and traffic lights controversy

Siemens has been accused of bribing Greek officials.[79][80][81] In 2008, it was revealed that Siemens had bribed the two main political parties of Greece for approximately 10 years to be the sole provider of mechanical and electrical equipment of the Greek state.[citation needed] After the exposure the German authorities moved to arrest the representatives of Siemens in Greece, who had managed to escape from the Greek authorities.[citation needed] The German judicial system didn't allow the Greek authorities to cross-question the representatives.[citation needed] As a result, there wasn't any solid evidence against the corrupt politicians, who weren't arrested and continue to be active in the Greek political system.[citation needed] Meanwhile, the Greek state cancelled the planned business deals. Since all spares were provided by Siemens, the equipment, like traffic lights eventually broke down, and projects like the metro expansion were abandoned.[citation needed]

See also

References

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Further reading

External links