Who owns siemens company

Under Plettner and new CEO Karlheinz Kaske, Siemens embarked on an expensive and ambitious program of acquisitions and research and development to try to make itself into a world leader in high technology. Its effort to develop its own microchips was a part of that effort, as was the acquisition of IBM's struggling Rolm Systems subsidiary in Siemens' strategy during the s was designed to pay off over the long term and produced few tangible benefits in the short run.

As one analyst told Business Week in , "Siemens will be an interesting story in the s. As the company entered the new decade, globalization became a vital part of its policy--and that meant a readjustment of the company's homogeneous culture. Europe was facing a recession and the Asian and South American markets offered huge opportunities for growth. The appointment of Dr. Heinrich von Pierer as chief executive in reflected the need for a cultural change and the drive for higher profitability.

Siemens had always been dominated by engineers. When von Pierer, an economist and lawyer, was elected to head the company, it was seen as a commitment to greater commercialism for the company. Von Pierer's guidance stressed three fundamental trends: the first was that 85 percent of Siemens' business would be conducted either in global markets or in markets that showed an unmistakable trend toward globalization; second, that significant improvements in manufacturing depended on reducing manufacturing "depth"; and third, that software was increasingly the crucial commercial factor.

Within the company, von Pierer caused a cultural revolution. He continued the reorganization begun by his predecessor, Kaske, and developed a program designed to make Siemens more competitive with Japanese companies by making it more responsive to market pressures. He replaced the hierarchical structure and engineering focus with a new emphasis on innovation and service.

He gave managers in local markets free rein to cut costs and bid for projects, while also appointing a younger generation of managers in their 40s. Moreover, von Pierer cut Siemens' workforce by 7. He continually asked if the company was flexible and changing enough, and at one point, included self-addressed postcards in the company magazine urging employees to send him their ideas.

Such measures were part of a strategy to get Siemens into new high-growth markets, especially in Asia. He set up facilities in Asia and Eastern Europe to lower costs and reach new customers, and bought telecommunications units in the United States and Italy.

He also planned further acquisitions to move more production out of Germany. The strategy began to pay off. As of , sales continued to increase and the declining profits for the company began to increase. In another move toward globalization, an international partnership brought Siemens together with the world's largest computer maker and Japan's second largest chip maker.

In , Siemens joined forces with IBM and Toshiba Corporation to develop M-bit chips to create microprocessors with the power of supercomputers.

The first chip was expected to be marketed in The estimated cost for the project was a billion dollars for designing the chip and another billion for setting up the manufacturing facilities. The Siemens, IBM, and Toshiba alliance was expected to become the industry norm given rising operation costs and the focus towards a "borderless" world economy.

Innovation was always a part of Siemens' tradition. But new social pressures and rapidly changing technology throughout the world brought new challenges to Siemens as it faced the 21st century.

To deal with this new business market, Siemens used its tradition of intelligence, resources, and systematic application to remain a strong international force. As von Pierer stated in Siemens' annual report: "Helping set the course of change has been a vital part of our business for nearly years. Fifteen years ago, barely half of our worldwide sales came from products that were less than five years old.

This figure has now risen to more than two-thirds--solid proof that we are not just meeting increased demands for change, but are setting the pace for innovation. The mids proved to be difficult years for Siemens. Coupled with sluggish conditions in Europe, the onset of the economic crisis in east Asia took a serious toll, diminishing the company's profits by two-thirds between and Analysts critiqued Siemens for being too slow to respond to the new demands of the rapidly globalizing business environment, and many called for the company to overhaul its "old economy" conglomerate structure, especially by unloading those businesses dependent on slow-growing markets, such as power generation.

Under the time-optimized processes, or Top, program, a three-pronged strategy promoting cost-reduction, growth, and innovation, management had effected significant restructuring and substantial productivity gains since the early s.

Profits were still not sufficient, however, to finance the international expansion needed to keep up with competitors. Other problem divisions included power generation, transportation systems, and private communication networks. In spite of criticism, von Pierer held fast to his traditionalist belief that there were valuable synergies between the various arms of Siemens' business activities, especially as nearly all of the company's businesses were in electrics or electronics, and as the broad scope of activities helped to insulate Siemens from the inevitable ups and downs of different business cycles.

By , however, the CEO conceded that the company had diluted its overall strength by stretching itself in too many directions at once. The company is a wholly-owned subsidiary of Siemens AG, a Germany-based industrial, electrical and medical technology company. Siemens Ltd derives the majority of its revenue from operating as an electronics and engineering company across New Zealand and Australia.

The company also focuses on providing environmental technologies, electronic solutions and operates in different divisions, such as:. Note: we do not provide a full financial details for all company profiles. Understand the competitive threats and opportunities within the industries Siemens Ltd operates in.

Gain insight into the industry trends and competitive forces that Siemens Ltd is exposed to. IBISWorld provides profiles on 2, private and public Australian companies and reports on thousands of industries around the world.

Our clients rely on our information and data to stay up-to-date on business and industry trends. Andreas Hoffmann. Sabine Reichel. Jens-Thomas Pietralla. Sebastian Andreas Brachert, Dr. Roland W. Members of the board. Michael Diekmann. Bettina Haller. Birgit Steinborn. Michael Sigmund. Norbert Reithofer.

Markets and indexes. Stock Exchange Codes. Company contact information. Brand Portfolio. In partnership with. More brands of Siemens. Founded in , the company was soon an international enterprise. In , Werner von Siemens discovered the dynamo-electric principle, probably his most significant achievement in the area of electrical engineering. This discovery helped establish the idea that electricity could be used as a power source.

The company also gained worldwide recognition for its successful handling of technically complex, extremely high-risk projects, such as the planning and construction of the Indo-European telegraph line from London to Calcutta and the laying of a transatlantic cable between Europe and the U. Werner von Siemens: Visionary and man of action. Johann Georg Halske and Werner von Siemens met in early A few days later, Siemens commissioned the master mechanic to construct the pointer telegraph that he had designed.

Alienated by a working world that was rapidly industrializing and mechanizing, Halske withdrew from the business at the age of just under As a city councilor, he made an important contribution to public life in Berlin, taking a particular interest in the promotion of the applied arts.

Johann Georg Halske remained friends with Werner von Siemens until his death. After successfully laying cables in the Mediterranean, the company achieved a breakthrough in the tough British telegraphy market.

Despite his numerous business activities, Wilhelm — who acquired British citizenship and changed his name to William — considered himself first and foremost a scientist and engineer.

In England, his name is associated primarily with scientific research and his commitment to academic societies. Carl von Siemens, another younger brother of company founder Werner von Siemens, made a name for himself mainly through his business activities in Russia. In , he traveled to St.