Klaus Kleinfeld
Who was the chief executive officer of Siemens between Jun 2005 and Jun 2006?
Siemens Siemens AG ( ) is a German multinational conglomerate company headquartered in Munich and the largest industrial manufacturing company in Europe with branch offices abroad . The principal divisions of the company are Industry , Energy , Healthcare ( Siemens Healthineers ) , and Infrastructure & Cities , which represent the main activities of the company . The company is a prominent maker of medical diagnostics equipment and its medical health-care division , which generates about 12 percent of the companys total sales , is its second-most profitable unit , after the industrial automation division . The company is a component of the Euro Stoxx 50 stock market index . Siemens and its subsidiaries employ approximately 385,000 people worldwide and reported global revenue of around €87 billion in 2019 according to its earnings release . History . 1847 to 1901 . Siemens & Halske was founded by Werner von Siemens and Johann Georg Halske on 1 October 1847 . Based on the telegraph , their invention used a needle to point to the sequence of letters , instead of using Morse code . The company , then called Telegraphen-Bauanstalt von Siemens & Halske , opened its first workshop on 12 October . In 1848 , the company built the first long-distance telegraph line in Europe ; 500 km from Berlin to Frankfurt am Main . In 1850 , the founders younger brother , Carl Wilhelm Siemens , later Sir William Siemens , started to represent the company in London . The London agency became a branch office in 1858 . In the 1850s , the company was involved in building long-distance telegraph networks in Russia . In 1855 , a company branch headed by another brother , Carl Heinrich von Siemens , opened in St Petersburg , Russia . In 1867 , Siemens completed the monumental Indo-European telegraph line stretching over 11,000 km from London to Calcutta . In 1867 , Werner von Siemens described a dynamo without permanent magnets . A similar system was also independently invented by Ányos Jedlik and Charles Wheatstone , but Siemens became the first company to build such devices . In 1881 , a Siemens AC Alternator driven by a watermill was used to power the worlds first electric street lighting in the town of Godalming , United Kingdom . The company continued to grow and diversified into electric trains and light bulbs . In 1887 , it opened its first office in Japan . In 1890 , the founder retired and left the running of the company to his brother Carl and sons Arnold and Wilhelm . 1901 to 1933 . Siemens & Halske ( S & H ) was incorporated in 1897 , and then merged parts of its activities with Schuckert & Co. , Nuremberg in 1903 to become Siemens-Schuckert . In 1907 , Siemens ( Siemens & Halske and Siemens-Schuckert ) had 34,324 employees and was the seventh-largest company in the German empire by number of employees . ( see List of German companies by employees in 1907 ) In 1919 , S & H and two other companies jointly formed the Osram lightbulb company . During the 1920s and 1930s , S & H started to manufacture radios , television sets , and electron microscopes . In 1932 , ( Erlangen ) , Phönix AG ( Rudolstadt ) and Siemens-Reiniger-Veifa mbH ( Berlin ) merged to form the Siemens-Reiniger-Werke AG ( SRW ) , the third of the so-called parent companies that merged in 1966 to form the present-day Siemens AG . In the 1920s , Siemens constructed the Ardnacrusha Hydro Power station on the River Shannon in the then Irish Free State , and it was a world first for its design . The company is remembered for its desire to raise the wages of its under-paid workers only to be overruled by the Cumann na nGaedheal government . 1933 to 1945 . Siemens ( at the time : Siemens-Schuckert ) exploited the forced labour of deported people in extermination camps . The company owned a plant in Auschwitz concentration camp . Siemens exploited the forced labour of women in the concentration camp of Ravensbrück . The factory was located in front of the camp . During the final years of World War II , numerous plants and factories in Berlin and other major cities were destroyed by Allied air raids . To prevent further losses , manufacturing was therefore moved to alternative places and regions not affected by the air war . The goal was to secure continued production of important war-related and everyday goods . According to records , Siemens was operating almost 400 alternative or relocated manufacturing plants at the end of 1944 and in early 1945 . In 1972 , Siemens sued German satirist F.C . Delius for his satirical history of the company , Unsere Siemenswelt , and it was determined much of the book contained false claims although the trial itself publicized Siemens history in Nazi Germany . The company supplied electrical parts to Nazi concentration camps and death camps . The factories had poor working conditions , where malnutrition and death were common . Also , the scholarship has shown that the camp factories were created , run , and supplied by the SS , in conjunction with company officials , sometimes high-level officials . 1945 to 2001 . In the 1950s , and from their new base in Bavaria , S&H started to manufacture computers , semiconductor devices , washing machines , and pacemakers . In 1966 , Siemens & Halske ( S&H , founded in 1847 ) , Siemens-Schuckertwerke ( SSW , founded in 1903 ) and Siemens-Reiniger-Werke ( SRW , founded in 1932 ) merged to form Siemens AG . In 1969 , Siemens formed Kraftwerk Union with AEG by pooling their nuclear power businesses . The companys first digital telephone exchange was produced in 1980 . In 1988 , Siemens and GEC acquired the UK defence and technology company Plessey . Plesseys holdings were split , and Siemens took over the avionics , radar and traffic control businesses—as Siemens Plessey . In 1977 , Advanced Micro Devices ( AMD ) entered into a joint venture with Siemens , which wanted to enhance its technology expertise and enter the American market . Siemens purchased 20% of AMDs stock , giving the company an infusion of cash to increase its product lines . The two companies also jointly established Advanced Micro Computers ( AMC ) , located in Silicon Valley and in Germany , allowing AMD to enter the microcomputer development and manufacturing field , in particular based on AMDs second-source Zilog Z8000 microprocessors . When the two companies vision for Advanced Micro Computers diverged , AMD bought out Siemens stake in the American division in 1979 . AMD closed Advanced Micro Computers in late 1981 after switching focus to manufacturing second-source Intel x86 microprocessors . In 1985 , Siemens bought Allis-Chalmers interest in the partnership company Siemens-Allis ( formed 1978 ) which supplied electrical control equipment . It was incorporated into Siemens Energy and Automation division . In 1987 , Siemens reintegrated Kraftwerk Union , the unit overseeing nuclear power business . In 1989 , Siemens bought the solar photovoltaic business , including 3 solar module manufacturing plants , from industry pioneer ARCO Solar , owned by oil firm ARCO . In 1991 , Siemens acquired Nixdorf Computer AG and renamed it Siemens Nixdorf Informationssysteme AG , in order to produce personal computers . In October 1991 , Siemens acquired the Industrial Systems Division of Texas Instruments , Inc , based in Johnson City , Tennessee . This division was organized as Siemens Industrial Automation , Inc. , and was later absorbed by Siemens Energy and Automation , Inc . In 1992 , Siemens bought out IBMs half of ROLM ( Siemens had bought into ROLM five years earlier ) , thus creating SiemensROLM Communications ; eventually dropping ROLM from the name later in the 1990s . In 1993–1994 , Siemens C651 electric trains for Singapores Mass Rapid Transit ( MRT ) system were built in Austria . In 1997 , Siemens agreed to sell the defence arm of Siemens Plessey to British Aerospace ( BAe ) and a German aerospace company , DaimlerChrysler Aerospace . BAe and DASA acquired the British and German divisions of the operation respectively . In October 1997 , Siemens Financial Services ( SFS ) was founded to act as a competence center for financing issues and as a manager of financial risks within Siemens . In 1998 , Siemens acquired Westinghouse Power Generation for more than $1.5 billion from the CBS Corporation and moving Siemens from third to second in the world power generation market . In 1999 , Siemens semiconductor operations were spun off into a new company called Infineon Technologies . Its Electromechanical Components operations were converted into a legally independent company : Siemens Electromechanical Components GmbH & Co . KG , ( which , later that year , was sold to Tyco International Ltd for approximately $1.1 billion . In the same year , Siemens Nixdorf Informationssysteme AG became part of Fujitsu Siemens Computers AG , with its retail banking technology group becoming Wincor Nixdorf . In 2000 , Shared Medical Systems Corporation was acquired by the Siemens Medical Engineering Group , eventually becoming part of Siemens Medical Solutions . Also in 2000 , Atecs-Mannesman was acquired by Siemens , The sale was finalised in April 2001 with 50% of the shares acquired , acquisition , Mannesmann VDO AG merged into Siemens Automotive forming Siemens VDO Automotive AG , Atecs Mannesmann Dematic Systems merged into Siemens Production and Logistics forming Siemens Dematic AG , Mannesmann Demag Delaval merged into the Power Generation division of Siemens AG . Other parts of the company were acquired by Robert Bosch GmbH at the same time . Also , Moore Products Co . of Spring House , PA USA was acquired by Siemens Energy & Automation , Inc . 2001 to 2005 . In 2001 , Chemtech Group of Brazil was incorporated into the Siemens Group ; it provides industrial process optimisation , consultancy and other engineering services . Also in 2001 , Siemens formed joint venture Framatome with Areva SA of France by merging much of the companies nuclear businesses . In 2002 , Siemens sold some of its business activities to Kohlberg Kravis Roberts & Co . L.P . ( KKR ) , with its metering business included in the sale package . In 2002 , Siemens abandoned the solar photovoltaic industry by selling its participation in a joint-venture company , established in 2001 with Shell and E.ON , to Shell . In 2003 , Siemens acquired the flow division of Danfoss and incorporated it into the Automation and Drives division . Also in 2003 Siemens acquired IndX software ( realtime data organisation and presentation ) . The same year in an unrelated development Siemens reopened its office in Kabul . Also in 2003 agreed to buy Alstom Industrial Turbines ; a manufacturer of small , medium and industrial gas turbines for €1.1 billion . On 11 February 2003 , Siemens planned to shorten phones shelf life by bringing out annual Xelibri lines , with new devices launched as spring -summer and autumn-winter collections . On 6 March 2003 , the company opened an office in San Jose . On 7 March 2003 , the company announced that it planned to gain 10 per cent of the mainland China market for handsets . On 18 March 2003 , the company unveiled the latest in its series of Xelibri fashion phones . In 2004 , the wind energy company Bonus Energy in Brande , Denmark was acquired , forming Siemens Wind Power division . Also in 2004 Siemens invested in Dasan Networks ( South Korea , broadband network equipment ) acquiring ~40% of the shares , Nokia Siemens disinvested itself of the shares in 2008 . The same year Siemens acquired Photo-Scan ( UK , CCTV systems ) , US Filter Corporation ( water and Waste Water Treatment Technologies/ Solutions , acquired from Veolia ) , Hunstville Electronics Corporation ( automobile electronics , acquired from Chrysler ) , and Chantry Networks ( WLAN equipment ) . In 2005 , Siemens sold the Siemens mobile manufacturing business to BenQ , forming the BenQ-Siemens division . Also in 2005 Siemens acquired Flender Holding GmbH ( Bocholt , Germany , gears/industrial drives ) , Bewator AB ( building security systems ) , Wheelabrator Air Pollution Control , Inc . ( Industrial and power station dust control systems ) , AN Windenergie GmbH . ( Wind energy ) , Power Technologies Inc . ( Schenectady , USA , energy industry software and training ) , CTI Molecular Imaging ( Positron emission tomography and molecular imaging systems ) , Myrio ( IPTV systems ) , Shaw Power Technologies International Ltd ( UK/USA , electrical engineering consulting , acquired from Shaw Group ) , and Transmitton ( Ashby de la Zouch UK , rail and other industry control and asset management ) . 2005 and continuing : worldwide bribery scandal . Beginning in 2005 , Siemens became embroiled in a multi-national bribery scandal . One component of this scandal was the Siemens Greek bribery scandal over deals between Siemens and Greek government officials during the 2004 Summer Olympic Games . Siemens activities came under legal scrutiny when complaints from prosecutors in Italy , Liechtenstein and Switzerland lead to German authorities opening investigations , followed by a US investigation in 2006 concerning their activities while listed on US stock exchanges . The investigators found that bribing officials to win contracts was standard operating procedure . Over that time period the company paid around $1.3 billion in bribes in many countries and kept separate books to hide them . Settlement negotiations took place through most of 2008 with settlement terms announced in December 2008 . The company paid a total of about $1.6 billion , around $800 million in each of the US and Germany . This was the largest bribery fine in history , at the time . The company was also obligated to spend $1 billion on setting up and funding new internal compliance regimens . Siemens pleaded guilty to violating accounting provisions of the Foreign Corrupt Practices Act ; the parent company did not plead guilty to paying bribes ( although its Bangladesh and Venezuela subsidiaries did ) . In 2005 Germany opened investigations into Siemens business practices worldwide , prompted by requests from prosecutors in Italy , Liechtenstein and Switzerland ; US investigators joined in 2006 and the US investigators addressed violations only since 2001 , when Siemens started selling shares in a US stock exchange . The investigators found that bribing officials to win contracts was standard operating procedure . Over that time period the company paid around $1.3 billion in bribes in many countries and kept separate books to hide them . Fines were anticipated to be as high as $5 billion as the investigation unfolded . Settlement negotiations took place through most of 2008 and when they were announced in December they were far less , driven in part by Siemens cooperation , in part by the imminent change in US administrations ( the Obama administration was about to take over from the Bush administration ) , and in part by the dependence of the US military on Siemens as a contractor . The company paid a total of about $1.6 billion , around $800 million in each of the US and Germany . This was the largest bribery fine in history , at the time . The money paid to Germany included a $270 million fine paid the year before ( related to bribes in Nigeria ) . The US payment included $450 million in fines and penalties and a forfeiture of $350 million in profits . The company was also obligated to spend $1 billion on setting up and funding new internal compliance regimens . Siemens pleaded guilty to violating accounting provisions of the Foreign Corrupt Practices Act ; the parent company did not plead guilty to paying bribes ( although its Bangladesh and Venezuela subsidiaries did ) ; such a guilty plea would have barred Siemens from contracting for the US government . As the scandal had started breaking , Siemens had fired its chairman and CEO Heinrich von Pierer , and had hired its first non-German CEO , Peter Löscher ; it also had appointed a US lawyer , Peter Solmssen as an independent director to its board , in charge of compliance , and had accepted oversight of Theo Waigel , a former German finance minister , as a compliance monitor . The compliance overhaul eventually entailed hiring around 500 full-time compliance personnel worldwide . Siemens also enacted a series of new anti-corruption compliance policies , including a new anti-corruption handbook , web-based tools for due diligence and compliance , a confidential communications channel for employees to report irregular business practices , and a corporate disciplinary committee to impose appropriate disciplinary measures for substantiated misconduct . The culture of bribery was old in Siemens , and led to the 1914 scandal in Japan over bribes paid by both Siemens and Vickers to Japanese naval authorities to win shipbuilding contracts . The culture of bribery had further had grown up inside Siemens after World War II as Siemens attempted to rebuild its business by competing in the developing world , where bribery is common . Until 1999 in Germany , bribes were a tax-deductible business expense , and there were no penalties for bribing foreign officials . In 1999 the OECD Anti-Bribery Convention came into effect , to which Germany was a party , and Siemens started to use off-shore accounts and other means of hiding its bribery . As the investigation opened a midlevel executive in the telecommunications unit , Reinhard Slekaczek , was identified as a key player ; Slekaczek quit Siemens in 2005 after the company required him to sign a document saying he had followed law and company policy , and turned states evidence and led investigators to documents he had saved and to other documents . He had controlled an annual global bribery budget of $40 to $50 million . The usual method of bribery was to pay a local insider as a contractor who would in turn pass money to government officials ; as part of the settlement Siemens disclosed that it had 2,700 such contractors worldwide . Bribes were generally around 5% of a contracts value but in very corrupt countries they could be as high as 40% . It paid the highest bribes in Argentina , Israel , Venezuela , China , Nigeria , and Russia . Examples of bribery the investigation found included : - $40 million in bribes in Argentina to win a $1 billion contract to make national identity cards . - $20 million in Israel for a contract to build power plants - $16 million in Venezuela for urban rail lines . - $14 million In China for medical equipment - $12.7 million in payments in Nigeria - $5 million in Bangladesh for mobile phones - $1.7 million in Iraq to Saddam Hussein and others . The investigation led directly to several prosecutions while it was unfolding , and led to settlements with other governments and prosecution of Siemens employees and bribe recipients in various countries . In May 2007 a German court convicted two former executives of paying about €6 million in bribes from 1999 to 2002 to help Siemens win natural gas turbine supply contracts with Enel , an Italian energy company . The contracts were valued at about €450 million . Siemens was fined €38 million . In July 2009 , Siemens settled allegations of fraud by a Russian affiliate in a World Bank-funded mass transit project in Moscow by agreeing to not bid on World Bank projects for two years , not allowing the Russian affiliate to do any World Bank funded work for four years , and setting up a $100 million fund at the World Bank to fund anti-corruption activities over 15 years , over which the World Bank had veto and audit rights ; this fund became the Siemens Integrity Initiative . The first payments were made out of the funds in 2010 in a tranche of $40 million . A second set of projects was funded in 2014 totaling $30 million . Siemens paid N7 billion to the Nigerian government in 2010 . In 2012 , the Greek government settled the Greek bribery scandal for 330 million euros . The trial of the persons accused of involvement in the scandal began on 24 February 2017 . A total of 64 individuals are accused , both Greek and German nationals . The central figure of the scandal however , ex-Siemens chief executive in Greece Michael Christoforakos , against whom European arrest warrants are pending will likely be absent , as Germany refuses his extradition to this day . Initially arrested in Germany in 2009 , the accusations against him by German courts have been dropped , and he since lives free in this country . Greece has been demanding his extradition since 2009 , and considers him a fugitive from justice . In 2014 a former Siemens executive Andres Truppel pleaded guilty to funneling nearly $100 million in bribes to Argentine government officials to win the ID card project for Siemens . In 2014 Israeli prosecutors decreed that Siemens should pay US$42.7 million penalty and appoint an external inspector to supervise its business in Israel in exchange for state prosecutors dropping charges of securities fraud . According to the indictment , Siemens systematically paid bribes to Israel Electric Corporation executives so they would utilize their positions in order to favor and advance the interests of Siemens . 2006 to 2011 . In 2006 , Siemens purchased Bayer Diagnostics which was incorporated into the Medical Solutions Diagnostics division on 1 January 2007 , also in 2006 Siemens acquired Controlotron ( New York ) ( ultrasonic flow meters ) Also in 2006 Siemens acquired Diagnostic Products Corp. , Kadon Electro Mechanical Services Ltd . ( now TurboCare Canada Ltd. ) , Kühnle , Kopp , & Kausch AG , Opto Control , and VistaScape Security Systems . In January 2007 , Siemens was fined €396 million by the European Commission for price fixing in EU electricity markets through a cartel involving 11 companies , including ABB , Alstom , Fuji Electric , Hitachi Japan , AE Power Systems , Mitsubishi Electric Corp , Schneider , Areva , Toshiba and VA Tech . According to the commission , between 1988 and 2004 , the companies rigged bids for procurement contracts , fixed prices , allocated projects to each other , shared markets and exchanged commercially important and confidential information . Siemens was given the highest fine of €396 million , more than half of the total , for its alleged leadership role in the activity . In March 2007 , a Siemens board member was temporarily arrested and accused of illegally financing a business-friendly labour association which competes against the union IG Metall . He has been released on bail . Offices of the labour union and of Siemens have been searched . Siemens denies any wrongdoing . In April the Fixed Networks , Mobile Networks and Carrier Services divisions of Siemens merged with Nokias Network Business Group in a 50/50 joint venture , creating a fixed and mobile network company called Nokia Siemens Networks . Nokia delayed the merger due to bribery investigations against Siemens . In October 2007 , a court in Munich found that the company had bribed public officials in Libya , Russia , and Nigeria in return for the awarding of contracts ; four former Nigerian Ministers of Communications were among those named as recipients of the payments . The company admitted to having paid the bribes and agreed to pay a fine of 201 million euros . In December 2007 , the Nigerian government cancelled a contract with Siemens due to the bribery findings . Also in 2007 , Siemens acquired Vai Ingdesi Automation ( Argentina , Industrial Automation ) , UGS Corp. , Dade Behring , Sidelco ( Quebec , Canada ) , S/D Engineers Inc. , and Gesellschaft für Systemforschung und Dienstleistungen im Gesundheitswesen mbH ( GSD ) ( Germany ) . In July 2008 , Siemens AG formed a joint venture of the Enterprise Communications business with the Gores Group , renamed Unify in 2013 . The Gores Group holding a majority interest of 51% stake , with Siemens AG holding a minority interest of 49% . In August 2008 , Siemens Project Ventures invested $15 million in the Arava Power Company . In a press release published that month , Peter Löscher , President and CEO of Siemens AG said : This investment is another consequential step in further strengthening our green and sustainable technologies . Siemens now holds a 40% stake in the company . In January 2009 , Siemens sold its 34% stake in Framatome , complaining limited managerial influence . In March , it formed an alliance with Rosatom of Russia to engage in nuclear-power activities . In April 2009 , Fujitsu Siemens Computers became Fujitsu Technology Solutions as a result of Fujitsu buying out Siemens share of the company . In June 2009 news broke that Nokia Siemens had supplied telecommunications equipment to the Iranian telecom company that included the ability to intercept and monitor telecommunications , a facility known as lawful intercept . The equipment was believed to have been used in the suppression of the 2009 Iranian election protests , leading to criticism of the company , including by the European Parliament . Nokia Siemens later divested its call monitoring business , and reduced its activities in Iran . In October 2009 , Siemens signed a $418 million contract to buy Solel Solar Systems , an Israeli company in the solar thermal power business . In December 2010 , Siemens agreed to sell its IT Solutions and Services subsidiary for €850 million to Atos . As part of the deal , Siemens agreed to take a 15% stake in the enlarged Atos , to be held for a minimum of five years . In addition , Siemens concluded a seven-year outsourcing contract worth around €5.5 billion , under which Atos will provide managed services and systems integration to Siemens . 2011 to present . In March 2011 , it was decided to list Osram on the stock market in the autumn , but CEO Peter Löscher said Siemens intended to retain a long-term interest in the company , which was already independent from the technological and managerial viewpoints . In September 2011 , Siemens , which had been responsible for constructing all 17 of Germanys existing nuclear power plants , announced that it would exit the nuclear sector following the Fukushima disaster and the subsequent changes to German energy policy . Chief executive Peter Löscher has supported the German governments planned Energiewende , its transition to renewable energy technologies , calling it a project of the century and saying Berlins target of reaching 35% renewable energy sources by 2020 was feasible . In November 2012 , Siemens acquired the Rail division of Invensys for £1.7 billion . In the same month , Siemens acquired a privately held company , LMS International NV . In August 2013 , Nokia acquired 100% of the company Nokia Siemens Networks , with a buy-out of Siemens AG , ending Siemens role in telecommunication . In August 2013 , Siemens won a $966.8 million order for power plant components from oil firm Saudi Aramco , the largest bid it has ever received from the Saudi company . In 2014 , Siemens announced plans to build a $264 million facility for making offshore wind turbines in Paull , England , as Britains wind power rapidly expands . Siemens chose the Hull area on the east coast of England because it is close to other large offshore projects planned in coming years . The new plant is expected to begin producing turbine rotor blades in 2016 . The plant and the associated service center , in Green Port Hull nearby , will employ about 1,000 workers . The facilities will serve the UK market , where the electricity that major power producers generate from wind grew by about 38 percent in 2013 , representing about 6 percent of total electricity , according to government figures . There are also plans to increase Britains wind-generating capacity at least threefold by 2020 , to 14 gigawatts . In May 2014 , Rolls-Royce agreed to sell its gas turbine and compressor energy business to Siemens for £1 billion . In June 2014 , Siemens and Mitsubishi Heavy Industries announced their formation of joint ventures to bid for Alstoms troubled energy and transportation businesses ( in locomotives , steam turbines , and aircraft engines ) . A rival bid by General Electric ( GE ) has been criticized by French government sources , who consider Alstoms operations as a vital national interest at a moment when the French unemployment level stands above 10% and some voters are turning towards the far-right . In 2015 , Siemens acquired U.S . oilfield equipment maker Dresser-Rand Group Inc for $7.6 billion . In November 2016 , Siemens acquired EDA company Mentor Graphics for $4.5 billion . In November 2017 , the U.S . Department of Justice charged three Chinese employees of Guangzhou Bo Yu Information Technology Company Limited with hacking into corporate entities , including Siemens AG . In December 2017 , Siemens acquired the medical technology company Fast Track Diagnostics for an undisclosed amount . In August 2018 , Siemens acquired rapid application development company Mendix for €0.6 billion in cash . In May 2018 , Siemens acquired J2 Innovations for an undisclosed amount . In September 2019 , Siemens and Orascom Construction signed an agreement with the Iraqi government to rebuild two power plants , which is believed to setup the company for future deals in the country . In 2019–2020 , Siemens was identified as a key engineering company supporting the controversial Adani Carmichael coal mine in Queensland ( Australia ) . In January 2020 , Siemens signed an agreement to acquire 99% equity share capital of Indian switchgear manufacturer C&S Electric at €267 million ( ₹2,100 crore ) . The takeover was approved by the Competition Commission of India in August 2020 . In April 2020 , Siemens acquired a 77% majority stake in Indian building solution provider iMetrex Technologies for an undisclosed sum . In April 2020 , Siemens Energy was created as an independent company out of the energy division of Siemens . The trading of shares of the new Siemens Energy AG on the stock exchange is expected to be possible from 28 September onwards . In August 2020 , Siemens Healthineers AG announced that it plans to acquire U.S . cancer device and software company Varian Medical Systems in an all-stock deal valued at $16.4 billion . Products , services and contribution . Siemens offers a wide range of electrical engineering- and electronics-related products and services . Its products can be broadly divided into the following categories : buildings-related products ; drives , automation and industrial plant-related products ; energy-related products ; lighting ; medical products ; and transportation and logistics-related products . Siemens buildings-related products include building-automation equipment and systems ; building-operations equipment and systems ; building fire-safety equipment and systems ; building-security equipment and systems ; and low-voltage switchgear including circuit protection and distribution products . Siemens drives , automation and industrial plant-related products include motors and drives for conveyor belts ; pumps and compressors ; heavy duty motors and drives for rolling steel mills ; compressors for oil and gas pipelines ; mechanical components including gears for wind turbines and cement mills ; automation equipment and systems and controls for production machinery and machine tools ; and industrial plant for water processing and raw material processing . Siemens energy-related products include gas and steam turbines ; generators ; compressors ; on- and offshore wind turbines ; high-voltage transmission products ; power transformers ; high-voltage switching products and systems ; alternating and direct current transmission systems ; medium-voltage components and systems ; and power automation products . In the renewable energy industry , the company provides a portfolio of products and services to help build and operate microgrids of any size . It provides generation and distribution of electrical energy as well as monitoring and controlling of microgrids . By using primarily renewable energy , microgrids reduce carbon-dioxide emissions , which is often required by government regulations . . It supplied a sustainable storage produc and s microgrid to Enel Produzione SPA for the island of Ventotene in Ital . k . Siemens OSRAM subsidiary produces lighting products including incandescent , halogen , compact fluorescent , fluorescent , high-intensity discharge and Xenon lamps ; opto-electronic semiconductor light sources such as light emitting diodes ( LEDs ) , organic LEDs , high power laser diodes , LED systems and LED luminaires ; electronic equipment including electronic ballasts ; lighting control and management systems ; and related precision components . Siemens medical products include clinical information technology systems ; hearing instruments ; in-vitro diagnostics equipment ; imaging equipment including angiography , computed tomography , fluoroscopy , magnetic resonance , mammography , molecular imaging ultrasound , and x-ray equipment ; and radiation oncology and particle therapy equipment . , Siemens finalized the sale of its hearing-aid ( hearing instruments ) business to Sivantos . Siemens transportation and logistics-related products include equipment and systems for rail transportation including rail vehicles for mass transit , regional and long-distance transportation , locomotives , equipment and systems for rail electrification , central control systems , interlockings , and automated train controls ; equipment and systems for road traffic including traffic detection , information and guidance ; equipment and systems for airport logistics including cargo tracking and baggage handling ; and equipment and systems for postal automation including letter parcel sorting . Operations . Siemens is incorporated in Germany and has its corporate headquarters in Munich . It has operations in around 190 countries and approximately 285 production and manufacturing facilities . Siemens had around 360,000 employees as of 30 September 2011 . Electrification , automation and digitalization are the long-term growth fields of Siemens . Its businesses in these fields are bundled into nine divisions , while healthcare as a separately managed business . - Power and Gas , Siemens Gamesa Renewable Energy ( spun off into Siemens Energy ) - Power generation services - Energy management - Building technologies - Mobility - Process Industries and Drives - Financial services - Healthineers - Automation and drive system for steel mills - Digital Factory ( Software ) Research and development . In 2011 , Siemens invested a total of €3.925 billion in research and development , equivalent to 5.3% of revenues . As of 30 September 2011 , Siemens had approximately 11,800 Germany-based employees engaged in research and development and approximately 16,000 in the rest of the world , of whom the majority were based in either Austria , China , Croatia , Denmark , France , India , Japan , Mexico , The Netherlands , Russia , Slovakia , Sweden , Switzerland , the United Kingdom or the United States . As of 30 September 2011 , Siemens held approximately 53,300 patents worldwide . Siemens has formed a strategic alliance with Technische Universität Darmstadt . Joint ventures . Siemens current joint ventures include : - Siemens Traction Equipment Ltd . ( STEZ ) , Zhuzhou China , is a joint venture between Siemens , Zhuzhou CSR Times Electric Co. , Ltd . ( TEC ) and CSR Zhuzhou Electric Locomotive Co. , Ltd . ( ZELC ) , which produces AC drive electric locomotives and AC locomotive traction components . - Primetals Technologies a joint venture between Siemens VAI Metals Technologies and Mitsubishi Hitachi Metals Machinery formed in 2015 . - OMNETRIC Group , A Siemens & Accenture company formed in 2014 . Former joint ventures include : - Silcar was a joint venture between Siemens Ltd and Thiess Services Pty Ltd until 2013 . Silcar is a 3,000 person Australian organisation providing productivity and reliability for large scale and technically complex plant assets . Services include asset management , design , construction , operations and maintenance . Silcar operates across a range of industries and essential services including power generation , electrical distribution , manufacturing , mining and telecommunications . In July 2013 , Thiess took full control . Finances . For the fiscal year 2017 , Siemens reported earnings of EUR 6.046 billion , with an annual revenue of €83.049 billion , an increase of 4.3% over the previous fiscal cycle . Siemens shares traded at over US$58 per share , and its market capitalization was valued at US$95.3 billion in November 2018 . In November 2019 , the company had higher fourth quarter earnings than expected , with adjusted earnings before interest , taxes , and amortization totaling €2.64 billion ( $2.92 billion ) , but warned of a slowdown , especially in the car sector , next year . Shareholders . The company has issued 881,000,000 shares of common stock . The largest single shareholder continues to be the founding shareholder , the Siemens family , with a stake of 6.9% . 62% are held by institutional asset managers , the largest being two divisions of the worlds largest asset manager BlackRock . 83.97% of the shares are considered public float , however including such strategic investors as the State of Qatar ( DIC Company Ltd. ) with 3.04% , the Government Pension Fund of Norway with 2.5% and Siemens AG itself with 3.04% . 19% are held by private investors , 13% by investors that are considered unidentifiable . 26% are owned by German investors , 21% by US investors , followed by the UK ( 11% ) , France ( 8% ) , Switzerland ( 8% ) and a number of others ( 26% ) . Senior management . Chairmen of the Siemens-Schuckertwerke Managing Board ( 1903 to 1966 ) - Alfred Berliner ( 1903 to 1912 ) - Carl Friedrich von Siemens ( 1912 to 1919 ) - ( 1919 to 1920 ) - ( 1920 to 1939 ) - ( 1939 to 1945 ) - ( 1945 to 1949 ) - ( 1949 to 1951 ) - Friedrich Bauer ( 1951 to 1962 ) - Bernhard Plettner ( 1962 to 1966 ) Chairmen of the Siemens & Halske / Siemens-Schuckertwerke Supervisory Board ( 1918 to 1966 ) - Wilhelm von Siemens ( 1918 to 1919 ) - Carl Friedrich von Siemens ( 1919 to 1941 ) - Hermann von Siemens ( 1941 to 1946 ) - Friedrich Carl Siemens ( 1946 to 1948 ) - Hermann von Siemens ( 1948 to 1956 ) - Ernst von Siemens ( 1956 to 1966 ) Chairmen of the Siemens AG Managing Board ( 1966 to present ) - , , Bernhard Plettner ( Presidency of the Managing Board ) ( 1966 to 1967 ) - Erwin Hachmann , Bernhard Plettner , Gerd Tacke ( Presidency of the Managing Board ) ( 1967 to 1968 ) - Gerd Tacke ( 1968 to 1971 ) - Bernhard Plettner ( 1971 to 1981 ) - Karlheinz Kaske ( 1981 to 1992 ) - Heinrich von Pierer ( 1992 to 2005 ) - Klaus Kleinfeld ( 2005 to 2007 ) - Peter Löscher ( 2007 to 2013 ) - Joe Kaeser ( 2013 to 2021 ) - Roland Busch ( 2021 to present ) Chairmen of the Siemens AG Supervisory Board ( 1966 to present ) - Ernst von Siemens ( 1966 to 1971 ) - Peter von Siemens ( 1971 to 1981 ) - Bernhard Plettner ( 1981 to 1988 ) - Heribald Närger ( 1988 to 1993 ) - Hermann Franz ( 1993 to 1998 ) - Karl-Hermann Baumann ( 1998 to 2005 ) - Heinrich von Pierer ( 2005 to 2007 ) - ( 2007 to 2018 ) - Jim Hagemann Snabe ( 2018 to present ) Managing Board ( present day ) - Roland Busch ( CEO Siemens AG ) - Klaus Helmrich - Cedrik Neike ( CEO Digital Industries ) - Matthias Rebellius ( CEO Smart Infrastructure ) - Ralf P . Thomas ( CFO ) - Judith Wiese