Siemens Eyes Orders From Econ Stimulus Plans

Siemens AG (SI) is counting on economic stimulus plans to cushion the decline in private-sector demand and the lack of a wider recovery, even as it expects the global economy to soon hit bottom.

The German industrial conglomerate calculates that over the next three fiscal years it can place bids for orders totaling EUR150 billion based on its portfolio and hopes for orders totaling EUR15 billion due to its global market share, chief financial officer Joe Kaeser said Monday.

However, Siemens has "no clear signals from governments yet if we can expect orders," Kaeser said.

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- Posted: 2009-06-22 09:42:10

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