SIEMENS IN INDIA

SIEMENS in India

SIEMENS in India

Overview of Siemens' in India

Siemens is a provider of technology enabled products, systems and services for technology, energy, infrastructure and healthcare sectors. It comprises of 17 companies and operates 21 manufacturing plants. The company has its operations in India, and the headquarters are located in Mumbai. The overall size of the workforce is 10,794 people. The total amount of the revenues of the company was INR119, 063.4 million (when the fiscal year ended on September 2011. There was an overall increase of 24.3% from the period 2010. The operating profit of the company was INR20, 091.6 million that was close to $443.8 million in fiscal 2011, an increase of 74.6% over 2010. The figure of net profit was INR8, 677.5 million that was close to $191.7 million in fiscal year 2011. The overall figure increased by 14.3% as compare to the period of 2010.

Siemens' History

The history of Siemens dates back to 1957, when an Indian Siemens sales company was founded under the name of Siemens Engineering & Manufacturing Co. of India Private Ltd. The company was converted into a public limited company and renamed as Siemens Engineering and Manufacturing Company of India Limited in 1961. In 1967, the company was renamed as Siemens India Ltd. Siemens India expanded its activities in Rajasthan, in 2003. In the following year, the company opened a research centre in India. In 2005, the company amalgamated its industrial turbo machinery subsidiary, Demag Delaval Industrial Turbo machinery. In the same year, the company signed two contracts for the development of the power transmission network in Qatar. Siemens India acquired 50% stake in Flender, a manufacturer of industrial gear boxes in 2006. In the same year, the company acquired assets and liabilities of Switchgear Manufacturing Division (SMD), an isolator business of Elpro International. The company entered formed an important coalition with Huawei-3 Com, for offering innovative IP based voice, data and video network solutions in same year. In 2007, the company acquired the remaining 26% stake in Siemens Industrial Turbo machinery Services (SITS) from Pimac Engineers (Kamath, 2008, 224).

In the same year, Siemens acquired a 77% equity stake in iMetrex Technologies and renamed it as Siemens Building Technologies. Siemens launched PETNET services in India in 2008. In the same year, the company launched SOMATOM Definition Adaptive Scanner a single source computed tomograph (CT) scanner. In 2009, Siemens introduced ACUSON X300TM PE, an ultrasound system for heart disorders. Siemens Healthcare entered into key technology partnerships in India to provide innovative imaging and information technology solutions to Medanta-The Medicity, a 1,250 bed multi-super specialty healthcare institute in Gurgaon, in 2009. In the same year, Siemens merged with Siemens Healthcare Diagnostics, which focuses on immunodiagnostics and the clinical chemistry business. Also in 2009, Siemens signed an agreement with EKO Diagnostics, a medical centre, to set up a cyclotron facility to manufacture positron emission tomography (PET) biomarkers in Kolkata (Kaplan, 1992, 90).

In 2010, Siemens had an agreement with Power Grid Corporation ...