Siemens sees market potential of US

Siemens AG today announced that it has ended 2011 with record operating results and achieved its outlook for the full year. The company sees major potential in the US after […]

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By Tom Gibson

Siemens AG today announced that it has ended 2011 with record operating results and achieved its outlook for the full year. The company sees major potential in the US after sales rose by 12%.

Both orders and revenues in Siemen’s energy arm increased massively. The company says the power, transmission and distribution sectors have shown real growth.

Eric Spiegel, president and CEO of Siemens Corporation in the US said: “The US is, by far, the single largest market for Siemens. We delivered strong growth over the prior year and can be proud of what we achieved financially. We won some very prestigious orders this year.”

For the fiscal year, global orders for Siemens AG climbed 16%, to €85.6 billion (£73.1bn).