56 Facts About Siemens AG

Siemens AG is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad.

Siemens AG continued to grow and diversified into electric trains and light bulbs.

In 1885, Siemens AG sold one of its generators to George Westinghouse, thereby enabling Westinghouse to begin experimenting with AC networks in Pittsburgh, Pennsylvania.

In 1892, Siemens AG were contracted to construct the Hobart electric tramway in Tasmania, Australia as they increased their markets.

In 1907, Siemens AG had 34,324 employees and was the seventh-largest company in the German empire by number of employees.

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Siemens AG is remembered for its desire to raise the wages of its under-paid workers only to be overruled by the Cumann na nGaedheal government.

Siemens AG exploited the forced labour of deported people in extermination camps.

Siemens AG exploited the forced labour of women in the concentration camp of Ravensbruck.

Siemens AG supplied electrical parts to Nazi concentration camps and death camps.

In 1969, Siemens AG formed Kraftwerk Union with AEG by pooling their nuclear power businesses.

Plessey's holdings were split, and Siemens AG took over the avionics, radar and traffic control businesses—as Siemens AG Plessey.

In 1977, Advanced Micro Devices entered into a joint venture with Siemens AG, which wanted to enhance its technology expertise and enter the American market.

In 1985, Siemens AG bought Allis-Chalmers' interest in the partnership company Siemens AG-Allis which supplied electrical control equipment.

In 1987, Siemens AG reintegrated Kraftwerk Union, the unit overseeing nuclear power business.

In 1989, Siemens AG bought the solar photovoltaic business, including 3 solar module manufacturing plants, from industry pioneer ARCO Solar, owned by oil firm ARCO.

In 1991, Siemens AG acquired Nixdorf Computer AG and renamed it Siemens AG Nixdorf Informationssysteme AG, in order to produce personal computers.

In October 1991, Siemens AG acquired the Industrial Systems Division of Texas Instruments, Inc, based in Johnson City, Tennessee.

In 1998, Siemens AG acquired Westinghouse Power Generation for more than $1.

Also in 2001, Siemens AG formed joint venture Framatome with Areva SA of France by merging much of the companies' nuclear businesses.

In 2002, Siemens abandoned the solar photovoltaic industry by selling its participation in a joint-venture company, established in 2001 with Shell and E ON, to Shell.

In 2003, Siemens AG acquired the flow division of Danfoss and incorporated it into the Automation and Drives division.

On 11 February 2003, Siemens AG planned to shorten phones' shelf life by bringing out annual Xelibri lines, with new devices launched as spring -summer and autumn-winter collections.

Also in 2005 Siemens AG acquired Flender Holding GmbH, Bewator AB, Wheelabrator Air Pollution Control, Inc, AN Windenergie GmbH.

Siemens AG' activities came under legal scrutiny when complaints from prosecutors in Italy, Liechtenstein and Switzerland lead to German authorities opening investigations, followed by a US investigation in 2006 concerning their activities while listed on US stock exchanges.

Siemens AG was obligated to spend $1 billion on setting up and funding new internal compliance regimens.

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Siemens AG pleaded guilty to violating accounting provisions of the Foreign Corrupt Practices Act; the parent company did not plead guilty to paying bribes.

Siemens AG was obligated to spend $1 billion on setting up and funding new internal compliance regimens.

Siemens AG pleaded guilty to violating accounting provisions of the Foreign Corrupt Practices Act; the parent company did not plead guilty to paying bribes ; such a guilty plea would have barred Siemens AG from contracting for the US government.

Siemens AG enacted a series of new anti-corruption compliance policies, including a new anti-corruption handbook, web-based tools for due diligence and compliance, a confidential communications channel for employees to report irregular business practices, and a corporate disciplinary committee to impose appropriate disciplinary measures for substantiated misconduct.

Culture of bribery was old in Siemens AG, and led to the 1914 scandal in Japan over bribes paid by both Siemens AG and Vickers to Japanese naval authorities to win shipbuilding contracts.

In 1999 the OECD Anti-Bribery Convention came into effect, to which Germany was a party, and Siemens AG started to use off-shore accounts and other means of hiding its bribery.

Siemens AG had controlled an annual global bribery budget of $40 to $50 million.

The usual method of bribery was to pay a local insider as a "contractor" who would in turn pass money to government officials; as part of the settlement Siemens AG disclosed that it had 2,700 such contractors worldwide.

In July 2009, Siemens AG settled allegations of fraud by a Russian affiliate in a World Bank-funded mass transit project in Moscow by agreeing to not bid on World Bank projects for two years, not allowing the Russian affiliate to do any World Bank funded work for four years, and setting up a $100 million fund at the World Bank to fund anti-corruption activities over 15 years, over which the World Bank had veto and audit rights; this fund became the "Siemens AG Integrity Initiative".

Siemens AG paid N7 billion to the Nigerian government in 2010.

In January 2007, Siemens AG was fined €396 million by the European Commission for price fixing in EU electricity markets through a cartel involving 11 companies, including ABB, Alstom, Fuji Electric, Hitachi Japan, AE Power Systems, Mitsubishi Electric Corp, Schneider, Areva, Toshiba and VA Tech.

Siemens AG admitted to having paid the bribes and agreed to pay a fine of 201 million euros.

In July 2008, Siemens AG formed a joint venture of the Enterprise Communications business with the Gores Group, renamed Unify in 2013.

In June 2009 news broke that Nokia Siemens AG had supplied telecommunications equipment to the Iranian telecom company that included the ability to intercept and monitor telecommunications, a facility known as "lawful intercept".

Nokia Siemens AG later divested its call monitoring business, and reduced its activities in Iran.

In October 2009, Siemens AG signed a $418 million contract to buy Solel Solar Systems, an Israeli company in the solar thermal power business.

In March 2011, it was decided to list Osram on the stock market in the autumn, but CEO Peter Loscher said Siemens AG intended to retain a long-term interest in the company, which was already independent from the technological and managerial viewpoints.

In September 2011, Siemens AG, which had been responsible for constructing all 17 of Germany's existing nuclear power plants, announced that it would exit the nuclear sector following the Fukushima disaster and the subsequent changes to German energy policy.

In 2014, Siemens AG announced plans to build a $264 million facility for making offshore wind turbines in Paull, England, as Britain's wind power rapidly expands.

Siemens AG chose the Hull area on the east coast of England because it is close to other large offshore projects planned in coming years.

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In 2015, Siemens AG acquired US oilfield equipment maker Dresser-Rand Group Inc for $7.

In December 2017, Siemens AG acquired the medical technology company Fast Track Diagnostics for an undisclosed amount.

In October 2021, Siemens AG acquired the building IoT software and hardware company Wattsense for an undisclosed sum.

In May 2022, Siemens AG decided to drop Russian operations and everything regarding the conglomerate on the Russian state amid the ongoing war of aggression against Ukraine since February 24th.

In July 2022, Siemens AG acquired ZONA Technology, specialist in aerospace simulation firm.

Siemens AG offers a wide range of electrical engineering- and electronics-related products and services.

Siemens AG buildings-related products include building-automation equipment and systems; building-operations equipment and systems; building fire-safety equipment and systems; building-security equipment and systems; and low-voltage switchgear including circuit protection and distribution products.

Siemens AG energy-related products include gas and steam turbines; generators; compressors; on- and offshore wind turbines; high-voltage transmission products; power transformers; high-voltage switching products and systems; alternating and direct current transmission systems; medium-voltage components and systems; and power automation products.

Siemens AG is incorporated in Germany and has its corporate headquarters in Munich.

Siemens AG had around 360,000 employees as of 30 September 2011.

Siemens AG' shares traded at over US$58 per share, and its market capitalization was valued at US$95.