Siemens seeks growth in Latin America, to keep investment pace

SANTIAGO Sat Jan 26, 2013 11:12pm IST

The logo of Siemens AG company is pictured atop a factory in Berlin October 9, 2012. REUTERS/Fabrizio Bensch

The logo of Siemens AG company is pictured atop a factory in Berlin October 9, 2012.

Credit: Reuters/Fabrizio Bensch

Related Topics

Stocks

   

SANTIAGO (Reuters) - Siemens(SIEGn.DE) wants to grow in Latin America and intends to maintain its investment pace in the dynamically-growing region, the CEO for South America, excluding Brazil, told Reuters on Saturday.

The German conglomerate had said on Wednesday it would stick with its focus on cost cuts to catch up with peers such as General Electric(GE.N) as a weak global economy saps demand for factory equipment.

Daniel Fernandez said mining, energy and infrastructure are the most interesting sectors in export-dependent Latin America, which has significant metal wealth, growing power needs and growing cities.

"Latin America is a very interesting market ... today it's more interesting than ever," Fernandez said on the sidelines of the Community of Latin American and Caribbean States (CELAC) and European Union (EU) business summit.

"We want to continue growing strongly in Chile and the other Latin American countries. We've already been growing strongly and we're going to maintain this rhythm with which we'll better our local presence."

Fernandez declined to give details of the company's investment plans. He added Siemens is not interested in selling assets in Latin America.

The engineering group makes products ranging from fast trains and gas turbines to hearing aids.

EU leaders took their hunt for economic growth to Latin America this weekend as the bloc tries to emerge from three years of crisis.

(Reporting by Alexadra Ulmer; Editing by Vicki Allen)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Rising Star

Reuters Showcase

Cybercrime

Cybercrime

Hacker sentenced to 21 months in U.S. prison for $15 mln scheme.  Full Article 

Printed Instruments

Printed Instruments

3D printed instruments make sweet music in Sweden.  Video 

Tweet Debut

Tweet Debut

Britain's Queen Elizabeth sends her first tweet.  Full Article 

Artificial Intelligence

Artificial Intelligence

Google bolsters artificial intelligence efforts, partners with Oxford.  Full Article 

Fighting For Workers

Fighting For Workers

Ralph Nader urges Apple to reduce buybacks, improve wages - WSJ.  Full Article 

Future Uncertainty

Future Uncertainty

Ericsson flags North America slowdown.  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Looking To Sell

Looking To Sell

HP seeking buyers for corporate-networking business in China - WSJ.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage