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

Alibaba IPO

Reuters Showcase

Slow Rollout

Slow Rollout

Los Angeles iPad rollout for schools slowed by technical challenges - report.  Full Article 

CEO Watch

CEO Watch

When music stops for Oracle CEO dance, Catz may grab Ellison's chair - analysts.  Full Article 

New iPhones

New iPhones

Apple faithful line up for latest, larger iPhones  Full Article 

Cutting Jobs

Cutting Jobs

Microsoft lays off 2,100 as part of earlier job cut plan.  Full Article 

Protecting Internet

Protecting Internet

Russia eyes measures to fend off Western Internet threat - Kremlin  Full Article 

Deal Talk

Deal Talk

SAP agrees to buy expense software maker Concur for $7.3 bln  Full Article 

Reuters India Mobile

Reuters India Mobile

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