Siemens not yet feeling the upswing

Siemens not yet feeling the upswing

"Business has not become easier," siemens ceo peter loscher told the "handelsblatt" (wednesday edition). "Even the short-cycled creations lacked impetus."

The world currently lacks an economic locomotive like china and the emerging markets were during the last crisis. So far, siemens has not seen the upturn that many experts expected in the coming months.

Loscher would not comment on the course of business in the second quarter, which has just ended. According to information from company circles, the meeting was "mixed".

Siemens must concentrate on its homework in this environment, loscher continued. The savings program is off to a good start. "Many mab measures show first effect. We have already achieved savings in the high three-digit million range."However, the group still has the roughest part of the road ahead of it.

Loscher had taken criticism in the past months. However, he "in no way" feared for his job, loscher said.

Under his leadership, siemens had achieved the highest profits in its history in the past two years in continuing operations. "We will not allow ourselves to be talked into a crisis."However, he wants to measure himself against the best competitors. "And at last others were better."

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