Siemens bundles its real estate portfolio in Siemens Real Estate
"We want to have a stronger focus and better transparency in our real estate management as well. By bundling our real estate management worldwide, we expect to increase efficiency by over ¤200 million by 2012," said Joe Kaeser, Siemens CFO. This increase will primarily be achieved through more efficient space utilization, the disposal of unneeded property and the optimization of service and supplementary costs by bundling resources worldwide.
With this move, the number of SRE employees worldwide will climb to 6,200. SRE handles the company's real estate development, utilization and management as well as consulting services. In fiscal 2008, SRE had revenue of ¤1.665 billion and posted income before income taxes of ¤356 million.
About Siemens AG
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 430,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. In fiscal 2008, Siemens had revenue of ¤77.3 billion and income from continuing operations of ¤5.9 billion (IFRS). Further information is available on the Internet at: www.siemens.com.