Siemens Consolidates Leadership in Chinese Electronics and Electric Market
In a significant year for the company, Siemens signed several high-profile contracts in China, solidifying its position as a leading player in the country's electronics and electric market. The contracts, worth a total of over €800 million, came from various sectors, including power generation, transportation, and telecommunications. These agreements demonstrate Siemens' commitment to expanding its presence in China and capitalizing on the country's growing demand for innovative technology.
Key Takeaways:
- Siemens signed a €210 million contract with four Chinese joint circulatory power plants for the supply of nine gas-turbines in October 2004.
- The company established a joint venture with the Shanghai Electric Group Co., Ltd. to enter the Chinese gas turbine market.
- Siemens' Transportation System Group secured a €350 million contract with the Chinese Ministry of Railways for 180 electric locomotives in December 2004.
- Siemens Com Group obtained contracts worth €123 million from China Mobile and China Unicom for GSM network expansion.
- The company established partnerships with Chinese leading telecom enterprises, Bird and Huawei, in mobile and TD-SCDMA technology sectors.
- Siemens took control of the Beijing International Switching System Co., Ltd. and renamed it as Beijing Siemens Telecom Network Co., Ltd.
- At present, Siemens has set up 45 operating enterprises and 34 regional offices in China, employing approximately 30,000 people.
Statistics:
- Contract value for power generation: €210 million
- Contract value for transportation: €350 million
- Contract value for telecommunications: €123 million
- Total contract value: over €800 million
- Number of employees in China: approaching 30,000
- Number of operating enterprises in China: 45
- Number of regional offices in China: 34
Sources:
- (XIC) o 22-02 1430