core sector communique

China and India are growth drivers for the Siemens VAI portfolio

Siemens VAI is strengthening its portfolio for iron and steelmaking. In future, it will not only develop and manufacture products and solutions in China and India, but also launch them onto the world market from these countries. Werner Auer, CEO of Siemens VAI, told the press on Tuesday, “Since the economic crisis, the competition in plant engineering has intensified significantly. Chinese and Indian companies are bringing their own plants onto the market successfully and ever more frequently.” Whereas hi-tech countries in Europe, the USA and Japan are continuing to focus on the efficiency and flexibility of their production processes, China and India want to produce, above all else, steel with simpler and cheaper plants to develop their infrastructure. “Almost half of total world investments of almost 21 billion euros are already being invested in such plants,” Auer said. Siemens is going to develop plants specifically for this segment of the market, and will also transfer the responsibility for design, production and marketing from Europe to China and India. Auer emphasized: “We are responding to the changes in the steel market, and strengthening our leading position for the long-term.”