Siemens announces the creation of a sector dedicated to urban sustainability
par Elsa Sidawy | 04.11.11
When it rains it pours. Siemens is set to cross the 100 billion euro mark in sales and announced on March 29 the upcoming IPO of its lighting branch Osram. The German group used this opportunity to also announce the creation of a fourth sector “Infrastructure and Cities. ” To win market share, the group wants to play a leading role in the growth of cities and urban infrastructure investments. The new branch will bring together the expertise of the company’s smart grid and will focus on technology integration and development of energy efficient solutions such as intelligent networks for buildings and integrated mobility solutions. “We’re orientating Siemens towards technological leadership in a broad spectrum of energy efficient solutions for cities and industries,” said Peter Löscher, CEO of Siemens, in an official statement. Cities represent for the group a market of almost 300 billion euros.