The origins of the conglomerate can be traced back to 1847 to theTelegraphen Bau-Anstalt von Siemens & Halske established inBerlin byWerner von Siemens andJohann Georg Halske. In 1966, the present-day corporation emerged from the merger of three companies:Siemens & Halske,Siemens-Schuckert, andSiemens-Reiniger-Werke. Today headquartered inMunich and Berlin, Siemens and its subsidiaries employ approximately 320,000 people worldwide and reported a global revenue of around €78 billion in 2023.[6] The company is a component of theDAX andEuro Stoxx 50 stock market indices.[9] As of December 2023, Siemens is the second largest German company bymarket capitalization.[10]
Siemens & Halske was founded byWerner von Siemens andJohann Georg Halske on 1 October 1847. Based on thetelegraph, their invention used a needle to point to the sequence of letters, instead of usingMorse code. The company, then calledTelegraphen-Bauanstalt von Siemens & Halske, opened its first workshop on 12 October.[11]
In 1848, the company built the first long-distance telegraph line in Europe: 500 km from Berlin toFrankfurt am Main. In 1850, the founder's younger brother, Carl Wilhelm Siemens, laterSir William Siemens, started to represent the company in London. TheLondon 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 inSt Petersburg, Russia. In 1867, Siemens completed the monumentalIndo-European telegraph line stretching over 11,000 km fromLondon toCalcutta.[12]
Firstelectric locomotive, built in 1879 by company founder Werner von Siemens
In 1867, Werner von Siemens described adynamo without permanent magnets.[13]
Siemens & Halske Omnibus 4x4HP; max. Speed 28 km/h (1899).
A similar system was also independently invented byÁnyos Jedlik andCharles Wheatstone, but Siemens became the first company to build such devices. In 1881, a SiemensACAlternator driven by awatermill was used to power the world's first electric street lighting in the town ofGodalming, United Kingdom. The company continued to grow and diversified intoelectric trains andlight bulbs. In 1885, Siemens sold one of its generators toGeorge 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 theHobartelectric tramway inTasmania,Australia, as it increased its markets. The system opened in 1893 and became the first complete electric tram network in the Southern Hemisphere.[15]
In 1932,Reiniger, Gebbert & Schall (Erlangen), Phönix AG (Rudolstadt) and Siemens-Reiniger-Veifa mbH (Berlin) merged to form theSiemens-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 theArdnacrusha Hydro Power station on theRiver Shannon in the thenIrish 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 theCumann na nGaedheal government.[20]
Siemens Factory and Ravensbrück concentration camp
Siemens exploited the forced labour of women deported to theRavensbrück concentration camp; a Siemens factory was located in front of the camp.[23]
During the final years ofWorld 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 toNazi concentration camps anddeath 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 theSS, in conjunction with company officials, sometimes high-level officials.[25][26][27][28]
The company's first digital telephone exchange was produced in 1980, and in 1988, Siemens andGEC acquired the UK defence and technology companyPlessey. Plessey's holdings were split, and Siemens took over theavionics,radar and traffic control businesses—asSiemens Plessey.[31]
Historical Siemens logos
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 establishedAdvanced Micro Computers (AMC), located in Silicon Valley and in Germany, allowing AMD to enter themicrocomputer development and manufacturing field,[32][35][36][37] in particular based on AMD's second-sourceZilogZ8000 microprocessors.[38][39] When the two companies' vision for Advanced Micro Computers diverged, AMD bought out Siemens's stake in the 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 boughtAllis-Chalmers' interest in the partnership companySiemens-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 toFMC Technologies in 1993.[45]
In 1989, Siemens bought the solar photovoltaic business, including 3 solar module manufacturing plants, from industry pioneer ARCO Solar, owned by oil firmARCO.[46]
In October 1991, Siemens acquired the Industrial Systems Division ofTexas Instruments, based inJohnson 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 outIBM's half ofROLM (Siemens had bought into ROLM five years earlier), thus creating SiemensROLM Communications; eventually dropping ROLM from the name later in the 1990s.[49]
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 1999, Siemens's semiconductor operations were spun off into a new company calledInfineon Technologies. Its Electromechanical Components operations were converted into a legally independent company: Siemens Electromechanical Components GmbH & Co. KG, (which, later that year, was sold toTyco International Ltd for approximately $1.1 billion.[52]
In 2000, Shared Medical Systems Corporation[53] was acquired by the Siemens's Medical Engineering Group,[54] eventually becoming part ofSiemens 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 byRobert Bosch GmbH at the same time.[57] Also, Moore Products Co. of Spring House, PA USA was acquired by Siemens Energy & Automation, Inc.[58]
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 ventureFramatome withAreva SA of France by merging much of the companies' nuclear businesses.[30]
In 2002, Siemens sold some of its business activities toKohlberg Kravis Roberts & Co. L.P. (KKR), with its metering business 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 withShell andE.ON, to Shell.[62]
In 2003, Siemens acquired the flow division ofDanfoss 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 inKabul.[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 inBrande, Denmark was acquired,[73][74] formingSiemens Wind Power division.[75] Also in 2004, Siemens invested inDasan 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 fromVeolia),[79] Huntsville Electronics Corporation (automobile electronics, acquired fromChrysler),[80] and Chantry Networks (WLAN equipment).[81]
In 2005, Siemens sold theSiemens mobile manufacturing business toBenQ, forming theBenQ-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 andmolecular imaging systems),[87][88] Myrio (IPTV systems),[citation needed] Shaw Power Technologies International Ltd (UK/USA, electrical engineering consulting, acquired fromShaw Group),[89][90] and Transmitton (Ashby de la Zouch UK, rail and other industry control and asset management).[91]
Beginning in 2005, Siemens became embroiled in a multi-nationalbribery scandal.[92] Among the various incidents was theSiemens Greek bribery scandal, where the company was accused of deals with Greek government officials during the2004 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 theForeign 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 USmilitary 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 itscompliance systems, appointingPeter Y. Solmssen, a US lawyer, as an independent director in charge of compliance and accepting oversight fromTheo Waigel, a former German finance minister. Siemens implemented newanti-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 overbribes 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 atax-deductible business expense in Germany, with no penalties for bribing foreign officials. However, with the implementation of the 1999OECD 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 companyEnel, 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 theWorld 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 theNigerian government in 2010, and a US$42.7 million penalty in Israel in 2014 to avoid charges of securities fraud.
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 theEuropean Commission forprice fixing in EU electricity markets through acartel involving 11 companies, includingABB,Alstom,Fuji Electric,Hitachi Japan, AE Power Systems,Mitsubishi Electric Corp,Schneider,Areva,Toshiba andVA 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.
Siemens power generating wind turbine towers
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 unionIG 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 withNokia's Network Business Group in a 50/50 joint venture, creating a fixed and mobile network company calledNokia Siemens Networks. Nokia 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 theEnterprise Communications business withthe Gores Group, renamedUnify 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 theArava 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 withRosatom of Russia to engage in nuclear-power activities.[30]
In June 2009 news broke thatNokia 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 the2009 Iranian election protests, leading to criticism of the company, including by theEuropean 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 buySolel 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 toAtos. 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 manufacturerKrauss-Maffei Wegmann GmbH, establishing Wegmann as the sole shareholder of KMW, pending approval by government authorities.[121][120]
Roland Busch has served as the company's CEO since 2021
In March 2011, it was decided to listOsram 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 thenuclear sector following theFukushima disaster and the subsequent changes to German energy policy. Chief executive Peter Löscher has supported the German government's plannedEnergiewende, 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 ofInvensys for £1.7 billion. In the same month, Siemens acquired aprivately 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 plant components from oil firmSaudi Aramco, the largest bid it 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, inGreen 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 andMitsubishi Heavy Industries announced their formation of joint ventures to bid forAlstom's troubled energy and transportation businesses (in locomotives, steam turbines, and aircraft engines). A rival bid byGeneral 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 November 2017, the U.S.Department of Justice charged three Chinese employees of Guangzhou Bo Yu Information Technology Company Limited withhacking into corporate entities, including Siemens AG.[132]
In December 2017, Siemens acquired the medical technology companyFast Track Diagnostics for an undisclosed amount.[133]
In May 2018, Siemens acquired J2 Innovations for an undisclosed amount.[135][136]
In May 2018, Siemens acquiredEnlighted, 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 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 theCompetition Commission of India in August 2020.[142]
In April 2020, Siemens acquired a 77% majority stake in Indian building service 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 companyVarian Medical Systems in an all-stock deal valued at $16.4 billion.[145]
In October 2021, Siemens acquired the building IoT software and hardware companyWattsense 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 ongoingwar 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 theimposed 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 manufacturerVolta Trucks to deliver and scale eMobility charging infrastructure to simplify the transition to fleet electrification.[150]
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 inSingapore and €140 million to enlarge a facility inChengdu, 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 inErlangen, 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 inForchheim and a training center for Siemens Healthineers in Erlangen.[155]
In August 2023, it was announced Siemens had signed an agreement to acquire theVeldhoven-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 inWiltshire, UK, aimed at replacing its existing rail infrastructure factory inChippenham with a new research and development centre, expected to open by 2026. The move is endorsed byChancellorJeremy Hunt as "a big boost" for UK manufacturing.[157]
In March 2024, it was announced Siemens had agreed to acquireebm-papst's industrial drive technology (IDT) division for undisclosed amount.[158]
As of 2023, the principal divisions of Siemens are Digital Industries, Smart Infrastructure, Siemens Mobility, Siemens Healthineers and Siemens Financial Services, with Siemens Healthineers and Siemens Mobility operating as independent entities. Siemens also operates a number of "Portfolio Companies" with market-specific offerings.[6] In 2020, the energy business was spun off into the separateSiemens Energy AG, with Siemens retaining a stake of 17.1% as of December 2023.[160] Other business units of the company include Siemens Technology (T) forresearch and development, Siemens Real Estate (SRE) for corporatereal estate management, Siemens Advanta forconsulting services (including themanagement consulting division Siemens Advanta Consulting), next47 as aventure capital fund, and Siemens Global Business Services (GBS) as ashared services unit.[6]
In 2023, CEORoland 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 withNvidia, 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 asoftware as a service (SaaS) subscription model, targeting accessibility for a range of businesses including small and medium-sized enterprises.[162]
In the renewable energy industry, the company provides a portfolio of products and services to help build and operatemicrogrids 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]
Siemens Mobility is a division involved in passenger and freighttransportation. This includes providingrolling stock, which covers a range of vehicles for urban, regional, and long-distance travel. The division also offers rail infrastructure products and services such asrail automation, digital station services, railway communication systems, and yard and depot services.[6]
In 2019, theEuropean Commission blocked a merger betweenAlstom and Siemens Mobility, citing anti-trust regulations. The plan would have seen the creation of a "European champion" to compete with China'sCRRC.[164]
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 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 therapies. Imaging includesmagnetic resonance,computed tomography,X-ray,molecular imaging, andultrasound 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 tocancer care, and advanced therapies focus on image-guidedminimally invasive procedures.[6]
Siemens Financial Services (SFS) is a division that delivers a range of financing services. These services target both Siemens's customers and external companies, includingdebt andequity investments. It providesleasing,lending,working capital, structured financing, and equipment and project financing services. SFS is also involved in providingfinancial advisory services andrisk management expertise to Siemens's industrial businesses, helping assess risk profiles of projects and business models.[6]
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 beingspun off include:
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]
For the fiscal year 2023, Siemens reported a revenue of €77.7 billion, an increase of 8% over the previous fiscal cycle.[172] In December 2023, Siemens's shares traded at over US$93 per share, and itsmarket capitalization was valued at US$147 billion.[173] According to anErnst & Young study published in December 2023, Siemens andSAP were the only German companies of the top 100 most valuable companies by market capitalization worldwide.[10]
The key trends of Siemens are (as at the financial year ending September 30):[174][175][176]
In 2023, Siemens invested a total of €6.1 billion in research and development.[172] As of 30 September 2022, Siemens had approximately 46,900 employees engaged in research and development and held approximately 43,600 patents worldwide.[6]
The company has issued 881,000,000 shares of common stock. The largest single shareholder continues to be the founding shareholder, theSiemens family, with a stake of 6.9%, while 62% is held by institutionalasset managers, the largest being two divisions of the world's largest asset managerBlackRock. Moreover, 83.97% of the shares are consideredpublic float, however including such strategic investors as the State ofQatar (DIC Company Ltd.) with 3.04%, theGovernment 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%).[180]
^Dudenredaktion; Kleiner, Stefan; Knöbl, Ralf (2015) [First published 1962].Das Aussprachewörterbuch [The Pronunciation Dictionary] (in German) (7th ed.). Berlin: Dudenverlag.ISBN978-3-411-04067-4.
^Krech, Eva-Maria; Stock, Eberhard; Hirschfeld, Ursula; Anders, Lutz Christian (2009).Deutsches Aussprachewörterbuch [German Pronunciation Dictionary] (in German). Berlin: Walter de Gruyter.ISBN978-3-11-018202-6.
^Fiedler, Martin (1999). "Die 100 größten Unternehmen in Deutschland – nach der Zahl ihrer Beschäftigten – 1907, 1938, 1973 und 1995".Zeitschrift für Unternehmensgeschichte (in German).1.Munich: Verlag C.H. Beck:32–66.doi:10.1515/zug-1999-0104.S2CID165110552.
^Rudenberg, H Gunther; Rudenberg, Paul G (2010). "Chapter 6 – Origin and Background of the Invention of the Electron Microscope: Commentary and Expanded Notes on Memoir of Reinhold Rüdenberg".Advances in Imaging and Electron Physics. Vol. 160. Elsevier.doi:10.1016/S1076-5670(10)60006-7.ISBN978-0-12-381017-5.
^John Cox (10 December 2004)."Siemens swallows start-up Chantry".Network World Fusion Network World US. News.techworld.com. Archived fromthe original on 18 July 2011. Retrieved18 September 2010.
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.ISBN0-7139-9211-5.
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,ISBN9-783867-746243.
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.
.jpg)
![[icon]](/mt/?noimg=&dark=on&url=http%3a%2f%2fen.wikipedia.org%2fwiki%2fFile%3aWiki_letter_w_cropped.svg)
_Berlin-Siemensstadt_002.jpg)
