Siemens sets 1bn euros as ten-year target

Siemens, Germany’s largest industrial group aims to post 1 billion euros in annual turnover on the Romanian market in ten years from now.

“The group’s president Heinrich von Pierer last year said that Siemens had set out to achieve annual turnover of one billion euros in ten years’ time. This means production capacities on the local market of software, IT and communication services, railroad infrastructure and power projects, as well as developing medical equipment and automation operations,” Adrian Baicusi, general managers of Siemens SRL, the local branch of the German group, told Ziarul Financiar.

The German group’s officials deem the Romanian market as the growth engine behind the entire region, as several Siemens divisions have already been operating in Romania, such as transportation, power, IT systems, mobile communications or medical equipment.

Siemens Romania SRL practically doubled turnover last year, as the contract signed with the Romanian Railroad Company CFR Calatori for Desiro locomotives was up and running.

Siemens SRL posted 165m-euro turnover in the fiscal year ending on September 30, 2003, up from 82 million euros in 2002. Profit rate revolved around 3%.

“We are planning to maintain the same growth pace this year,” Baicusi says.

Adrian Baicusi has been running Siemens Romania SRL since September 1, 2003, when he replaced Georg Rozinsky. Before Siemens, Baicusi was deputy general manager at OMV Mineraloel, the local distribution branch of the Austrian oil group.

Siemens will officially open a Sibiu-based plant of electric components in March, following a green-field investment of over 5 million euros. The plant will employ 250 people, Baicusi says.
adrian.mirsanu@zf.ro