Company Overview

More than 50 percent of cars in the U.S. contain Siemens technology. 35,000 North American facilities contain Siemens fire safety, and building automation and security systems. Processes 164 million health care information transactions each business day. Provides information and communications technology and services to 70 percent of the Fortune 500. Parent company employs 475,000 people in 190 countries and had 2007 revenue of $112.6 billion.

Siemens AG is a German industrial giant that provides automation and control, information and communications, lighting, medical, power, and transportation technologies and services. Siemens has nine global headquarters and 12 businesses headquartered in the U.S., all overseen by Siemens Corp. in New York. Its 795 building locations in the US operate in the following areas: building technologies, energy and energy management, financial services, home appliances, information and communications, lighting, medical, transportation, and water technology and services. It also has R&D and venture capital arms. Siemens is a global business that has placed a strong emphasis on the part it plays in America’s economy in recent years: In the 2006 fiscal year, the U.S. became Siemens’ largest market for the first time in the company's history, investing $5.5 billion in payroll to employees at home and securing $24 billion in acquisitions over the past five years in the US. In energy, its power generation solutions meet one-third of America’s total energy needs every day and produces lighting and control systems at more than half of America’s 100 busiest airports. In healthcare, it is the No. 1 application service. Siemens processes 90 percent of the nation’s mail, and purifies one in 10 glasses of water Americans drink every day. But America is only one part of the powerhouse’s equation. Fortune named it one of the Global 500’s “Most Admired Companies” in 2007 not only for being the largest electronics and electrical equipment company in the world, but also the most admired foreign electronics company in America, largest employer in Europe, and the sixth largest employer in the world. Its US customers include Cablevision, Ford Motor Company, and the Port of Los Angeles. In January 2008, the company restructured the Industry, Energy, and Healthcare sectors into 15 Divisions. “This new and more focused company structure will further increase our profitability and transparency. Clear responsibilities will ensure that we are faster in the market and closer to our customers,” Siemens President and CEO Peter Löscher said. The newly organized Industry and Energy sectors each have six divisions, and the Healthcare Sector three with regional leaders encouraged to continue the spirit of entrepreneurship stressed within Siemens. Löscher explained that the restructuring changes would alter the leadership culture by forming one, rather than two, managing boards with members from various sectors. The company also greatly raised its target margins in hopes of leading in all sectors worldwide. It was the first major change in the company since 1989.