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Siemens to push ahead with growth strategy in the U.S.


New production hub for 60-Hertz gas turbines in Charlotte

Erlangen, Germany/Charlotte, USA, Siemens expands its strong presence in the United States by building a new production plant for 60-Hertz gas turbines at its existing facility in Charlotte, North Carolina. The company will create a new global production hub for gas and steam turbines and generators for supply to the U.S. and other 60-Hz markets. The initial investment will be approximately $135 million. Production is slated to start in the fall of 2011.

“Following construction of the two production plants for wind turbines in Fort Madison and Hutchinson, the decision to expand the Charlotte production hub is further proof of our commitment to the important U.S. market,” said Peter Löscher, President and CEO of Siemens AG. “Over the next five years, we expect employment at the Charlotte site to grow to nearly 1,800 people, with more than 1,000 of those positions new to Charlotte. With this move we’re pushing ahead with our growth strategy in the U.S., which is our most important single-country market. Over the last ten years we’ve made acquisitions in the U.S. totaling more than $25 billion.”

Siemens has operations and personnel in all 50 states and employs a total work force of approximately 64,000 in the U.S., of which 10,000 work in the Energy Sector. In the future all Siemens gas turbines for 60-Hertz markets, such as North and South America, will be produced at the new Charlotte facility. “The new plant will be the most advanced gas turbine production site in North America and set new benchmarks in terms of quality, productivity and competitiveness in what is, by far, the world’s most important power market,” said Wolfgang Dehen, CEO of Siemens Energy. “By producing all 60-Hz gas turbines in the U.S., we’ll also reduce the distance products have to be shipped to most customers, thus reducing related CO2 emissions.” The production of 60-Hertz gas turbines at the Hamilton site in Canada will be phased out. This decision does not impact the production of gas turbines for 50-Hertz markets, which remains at the Berlin hub in Germany.

The U.S. is also the most important health care market for Siemens, generating almost 40 percent of its total revenue. UGS Corp., the U.S. software company, and US Filter Corp., the specialist water treatment company, now strengthen the Industry Sector. Every tenth glass of water consumed in the U.S. is now filtered using Siemens technology. In addition, Siemens is market leader in the area of mobility with a market share of 50% for streetcar models currently ordered in U.S.

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world’s largest provider of environmental technologies, generating €23 billion – nearly one-third of its total revenue – from green products and solutions. In fiscal 2009, which ended on September 30, 2009, revenue totaled €76.7 billion and net income €2.5 billion. At the end of September 2009, Siemens had around 405,000 employees worldwide. Further information is available on the Internet at:

This document contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words such as “expects,” “looks forward to,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “project” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of Siemens’ management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect Siemens’ operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For Siemens, particular uncertainties arise, among others, from changes in general economic and business conditions (including margin developments in major business areas and recessionary trends); the possibility that customers may delay the conversion of booked orders into revenue or that prices will decline as a result of continued adverse market conditions to a greater extent than currently anticipated by Siemens’ management; developments in the financial markets, including fluctuations in interest and exchange rates, commodity and equity prices, debt prices (credit spreads) and financial assets generally; continued volatility and a further deterioration of the capital markets; a worsening in the conditions of the credit business and, in particular, additional uncertainties arising out of the subprime, financial market and liquidity crises; future financial performance of major industries that Siemens serves, including, without limitation, the Sectors Industry, Energy and Healthcare; the challenges of integrating major acquisitions and implementing joint ventures and other significant portfolio measures; the introduction of competing products or technologies by other companies; a lack of acceptance of new products or services by customers targeted by Siemens; changes in business strategy; the outcome of pending investigations and legal proceedings and actions resulting from the findings of these investigations; the potential impact of such investigations and proceedings on Siemens’ ongoing business including its relationships with governments and other customers; the potential impact of such matters on Siemens’ financial statements; as well as various other factors. More detailed information about certain of the risk factors affecting Siemens is contained throughout this report and in Siemens’ other filings with the SEC, which are available on the Siemens website,, and on the SEC’s website, Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the relevant forward-looking statement as expected, anticipated, intended, planned, believed, sought, estimated or projected. Siemens does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated.

Reference Number: AXX20100343e


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