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Siemens Environmental Product Sales Rise
By George Frey, AP Business Writer
Manufacturing.Net - November 10, 2009

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FRANKFURT (AP) -- German industrial conglomerate Siemens AG said Tuesday its revenue on environmental products rose by 11 percent over the past year and that it had received an order for wind turbines from Mexico -- its first ever from Latin America.

Siemens, based in Munich, said it generated revenue of euro23 billion ($34 billion) in its environmental portfolio, up from the euro20.7 billion in 2008.

The company said energy-saving motors, solar inverter systems and components for energy-saving buildings were among the products that added to the improvement.

"Our green products and solutions are contributing to stabilizing our business during the economic crisis," Barbara Kux, the company's chief sustainability officer, said in a statement.

Siemens said earlier this year it expected governments of the world's 20 largest economies to spend about $430 billion (euro306 billion) in the next several years to improve infrastructure such as power grids and transportation networks to become more efficient and environmentally friendly. Siemens said it hoped to benefit from the trend and to increase the environmental portfolio's revenue to euro25 billion by 2011.

The company said previously it expects total revenue for 2009 around the 2008 level of euro77.3 billion.

Siemens' fiscal year starts in October. The company reports full year earnings on December 3.

In a separate reports, Siemens said it had received an order for 70 wind turbines for the Los Vergeles wind farm in Tamaulipas, Mexico, valued at some $270 million and an order from Transpower New Zealand Limited for euro164 million to upgrade an electricity grid.

The company said the Mexican order is the first from the Latin American region for wind turbines.

Siemens said the buyer is Grupo Soluciones en Energias Renovables, a Mexican wind energy developer. With a total installed capacity of more than 160 megawatts, the Los Vergeles wind farm is expected to provide clean power to 200,000 households, making it Mexico's largest wind farm.

In New Zealand, Siemens will modernize and increase the capacity of the existing high voltage direct current link between the north and south islands for Transpower, the national grid operator based in Wellington. Siemens said it will supply two converter stations and replace aging converters with new technology.

Shares of Siemens were slightly lower at euro63.69 in Frankfurt afternoon trading.


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US should be in this market  11/11/2009 6:13:00 AM
Why are foreign manufactors leading and we're behind in this area? Because their governments backed them. Our government should promote this manufactoring sector in the US. They shouldn't need to but will have to if we are to be competitive.


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