Siemens AG continues to see high investment potential in its water business — which includes water and wastewater treatment — despite the current economic crisis, according to a statement from Siemens in the United States.
Despite the worldwide credit crunch and news that the manufacturing industry could be in trouble, Siemens believes that the need for clean water in an increasingly-dry world will bode well for companies that deal in water treatment.
“Urbanisation and water shortage are long-term trends which will determine the need for water treatment and recycling solutions”, said Siemens Industrial Solutions Division chief executive officer, Jens Wegmann, who is responsible for the company’s water business.
“We are sticking to our view that the markets for water treatment will continue to grow worldwide.”
According to a press release coming out of the Chicago Siemens office, the company’s Water Technologies business is well-equipped to cater for any monetary delay as a result of business downturn in industrial and modernisation sectors. This is partly also due to the company’s wide-ranging portfolio, which includes businesses in health, safety, mobility and security.
Siemens’ accessible market volume worldwide was AU$73 billion in 2007, with the Siemens Water Technologies group currently engaged in projects amounting to AU$448,000.
“Whereas attracting investment capital for individual major projects is likely to become more difficult, we continue to see opportunities for growth in general business with products and services aimed at modernising and expanding existing installations,” said Wegmann.
In North America for example, project growth for water re-use plants is expected during the next few years to eliminate shortages in municipal and industrial water supplies in the area, says the Siemens statement.
Investments are also planned in branches of industry such as open-cast mining, paper production or the food industry where Siemens is active and water is a crucial production factor, the company says.
Siemens chief executive, Peter Loescher, announced only last week that the credit crisis will actually allow Siemens to look at take-over opportunities, as reported by Reuters.
“Attractive possibilities have begun to appear. We will take advantage of the opportunities in the crisis,” Loescher said in an interview.
Siemens Australia can be contacted by visiting www.siemens.com.au or calling 137 222.