Siemens AG, headquartered in Munich, Germany is a worldwide technology powerhouse that commits to engineering brilliance, advancement, quality, credibility and internationality for over 170 years. Currently, there exists fifty-five Siemens subsidiaries enlisted under the German Commercial Code, with an annual turnover of 4.0 billion euros.
One of the world's most significant manufacturers of energy-efficient, resource-saving innovations, Siemens AG is the pioneering producer of systems for power generation, transmission and healthcare excellence. In infrastructure and industry solutions, the company plays a leading role.
In the fiscal year of 2019, the Siemens Group generated revenue of €58.5 billion and acquired a net income of €5.6 billion. As of September 30, 2019, the company fostered 295,000 employees globally based on continuing operations.
Active globally, the company focuses on smart infrastructure for buildings and distinguished energy systems and catalyzes automation and digitalization in the manufacturing industries. Siemens integrates the digital and physical worlds for a sustainable environment of consumers and society.
Through Mobility, a prominent supplier of smart mobility solutions for rail and road transport, Siemens is aiding to rebuild the world market for passenger and freight services. Through its majority stake in its publicly listed subsidiary, Siemens Healthineers, Siemens is also a top-notch supplier of medical diagnosis and Al health services. Along with that, Siemens owns a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power listed on the stock exchange of September 2020. This article gives you an in-depth analysis of the topmost Siemens Subsidiaries and their annual turnover along with some of the most intriguing facts about these companies.
Siemens Subsidiaries and their importance in the Market
Siemens Corporation is a U.S. based subsidiary of Siemens AG, an international powerhouse addressing the areas of power generation and supply, smart infrastructure and multi-faceted energy systems. For over 160 years, the company has discovered and innovated technologies to aid the American industry augmenting manufacturing, energy, healthcare and infrastructure.
In 2018, Siemens USA generated a revenue of $23.7 billion, involving $5 billion in exports, fostering approximately 50,000 employees throughout all the 50 American states and Puerto Rico. In most of its activities, actions, and programs, Siemens Corporation aims to leverage the most of diversity because the company believes that diversity is one aspect that enhances its innovative capacity and the potential of Siemens' employees through direct contribution.
Siemens Corporation states that diversity is the involvement and coordination of a vast range of thinking, backgrounds, experience, and expertise. Since 2005, Siemens has been bestowed with more than 100 diversity-related awards worldwide, including appearing on the 2019 Forbes Best Employers for Diversity list and being named the 2019 Corporate Equality Index.
The Siemens Energy Sector, founded on January 1, 2008, is one of the four divisions of Siemens. The company generates and supplies power from multiple sources, including the acquisition, transformation and transportation of oil and natural gas and renewable and alternative energy sources.
Siemens Energy is known to modify the transition to more sustainable, credible, and reasonable energy systems. With their advanced technologies, a clear emphasis on consumers' needs, and more than 91,000 dedicated employees, the company caters to society's power needs at a large scale. It has also been seen to participate in various altruistic and charitable activities. One of them being the reconstruction of Lebanon's Ailing Power Sector after its massive 2020 blast.
After the deadly blast at Beirut's port in August, various global organizations and companies rushed to provide support to the Lebanese city in ruins. One of them was Siemens Energy. In a statement, the German company offered to supply medical aid and to run two gas turbines with an electrical capacity of about 80 megawatts (M.W.) free of cost.
Siemens Healthineers AG (formerly Siemens Healthcare, Siemens Medical Solutions, Siemens Medical Systems) is the parent company for various medical technology companies with its headquarters in Erlangen, Germany. The company traces its early beginnings back to 1847, a small family business in Berlin, co-founded by Werner von Siemens. The name, Siemens Medical Solutions was adopted in 2001, which was later changed to Siemens Healthcare in 2008.
The history of Siemens Healthineers began in Berlin in the mid-19th century as a component of Siemens AG, the mother company. Siemens & Halske was founded by Werner von Siemens and Johann Georg Halske on October 12 1847.
The company was built around an invention of the pointer telegraph, by Siemens. Based on the telegraph, Werner von Siemens' new innovation used a needle to point to letters' chronology, rather than using the Morse code. The company, then identified as Telegraphen-Bauanstalt von Siemens & Halske, installed its first workshop on October 12. Eventually, the new company involved electromatic equipment and specialized in manufacturing medical technology.
Siemens Healthineers has contributed to various charitable events globally. The company has fostered programs such as the American Society for Clinical Pathology's (ASCP) laboratory student scholarships, the PATH Ingenuity Fellows mentorship program, etc.
The company has also fostered different disaster relief efforts. In response to hurricane Katrina in 2005, Siemens Healthineers offered heart monitors and imaging equipment to Houston-area hospitals. Its parent company, Siemens AG, offered 100% of U.S. employee donations to the American Red Cross Disaster Relief Fund. Following the 2010 earthquake in Haiti, Siemens Healthineers offered medical equipment to augment healthcare heroes. The company also responded similarly in 2015 when a 7.8 magnitude earthquake struck Nepal.
German tech-solutions company, Siemens declared its largest deal with an industrial software company since 2007 with Mentor Graphics' acquisition. Located in the United States, Mentor Graphics builds software that harnesses design and simulation of semiconductor chips implemented in automotive, aerospace, and other industries. Currently, has 5,700 employees and envisions to attain $1.22 billion in revenue in the future.
The purchase was struck at $4.5 billion. Siemens offers $37.25 per share to Mentor Graphics shareholders. Providing Mentor Graphics' software to producers expects to become a prominent player in building automated-car technologies and other technologies that are expected to see growth within the next 20 years.
Siemens is setting its long-term value harnessing journey through effective growth and strengthened profitability with a primary and lenient company structure. The Vision 2020+ company strategy's primary goal is to provide Siemens' individual businesses significantly more entrepreneurial liberty under the strong Siemens brand to reconcile their focus on their significant markets.