Siemens AG, Europe’s largest engineering company, aims to grow its sales from so-called green products designed to save energy to 40 billion euros ($55 billion) by 2014.
Revenue from environmental products totaled about 28 billion euros in the fiscal year through September, the company said in an e-mailed statement today. The company had previously targeted revenue of at least 25 billion euros by 2011.
Siemens’ competitor General Electric Co. said it will invest about $10 billion in environmentally friendly products by 2015 through his five-year-old “ecomagination” program. Connecticut-based GE has a revenue goal for the program of $20 billion by 2010, with $18 billion in sales generated last year.
“We want to -- and we will -- increase our advantage over our most important competitors,” Management Board member Barbara Kux said in the statement.We are fans:
Munich-based Siemens claims a leading position in technology for offshore wind farms, with more than 500 turbines installed, as well as solar thermal energy, advanced electricity grids, and water purification systems....MORE
Attention GE: Huge After Hours Breakout for Siemens AG (SI)
Siemens is GE's much better managed doppelgänger.*Sept. 17
After closing up 5.5% in regular trade on Friday the stock was up another $7.12 to $114.08 after hours.
AH trading can often fade the following trading day but if not this is a very important (and profitable for those who are long) move, breaking through resistance that has stopped the stock four times in the last year....
Siemens; ABB lifted to conviction buy at Goldman: ABB, Siemens, Schneider to Gain From Demand for Smart Grids, Goldman Says (SI; ABB)
August 2, 2010
Dear General Electric: "Siemens Beats on Higher Revenues" (SI)
July 1, 2010
"Siemens Wants To Be Number One In Solar Thermal" (SI; GE)
June 29, 2010
Siemens Sees Strong Profitability, Decides to Open a Bank (SI)
May 10, 2010
Dear General Electric, Siemens: American Superconductor to Begin Licensing 10 MW Wind Turbine this Year (AMSC; GE; SI)
February 9, 2010
"Siemens aims for 1/5 of world smart grids business" (SI)
And many more.