Siemens to Strengthen its Water Business: Worldwide Re-organization Secures Opportunities for Growth
Siemens Water Technologies plans to re-organize its worldwide business. The changes will involve transitioning its 28 mainly technology-oriented business units to create four new segments aligned to specific markets and target groups.
“By integrating our business in this way, we will lay the foundations for further growth in water business and expansion of our position in the market”, explained Joergen Ole Haslestad, CEO of the Industry Solutions Division (IS), during a press conference in Munich on Wednesday. In the future, the Water Technologies business of IS will be divided among four segments: industry, municipal, chemical feed and services.
Since the acquisition of USFilter in 2004, the worldwide water business of Siemens has grown to a total of 2 billion euros, according to the latest figures. In addition, the company’s water business, which was originally US-based, has turned over more than one third outside of U.S. For Haslestad, this is a “clear demonstration of what the global Siemens network can achieve”. He now expects further growth – primarily from the expansion of global service business: “Service business and partnerships with our customers for providing and keeping their equipment maintained – from installation and modernization to expansion of capacity – not only lends impetus to the market but also has potential in respect of volume and earnings”, said Haslestad.
