Siemens Launches Regional Company in Oman
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Muscat, 31 October 2006 - Siemens AG, the global electrical engineering and electronics company, yesterday inaugurated Siemens LLC, its new regional company for Oman formed as a joint venture with Waleed Associates.
The announcement came at a ceremony hosted by His Excellency, Dr. Omar bin Abdul
Muniem Al Zawawi, President of the OMZEST Group of companies (the parent company of
Waleed Associates) and Dr Klaus Kleinfeld, President and CEO of Siemens AG.
"Our expansion in Oman demonstrates our ongoing commitment to our customers in this
dynamically growing region," said Dr. Kleinfeld. "We will be able to further develop and dedicate our experience for them, jointly creating innovative solutions that will add a lasting value to our customers' businesses."
The formation of the regional company comes at a time when the Omani market is poised for a major expansion drive. It builds on the existing strengths of Siemens in the region and specifically so, in Oman. "Siemens has been active in Oman for over 30 years and has had a continuous physical presence here since the early 1980s," explained Ralf Fueller, CEO of Siemens LLC Oman.
The creation of Siemens LLC also consolidates the 35-year relationship between Siemens AG and Waleed Associates, starting with the first agreement signed in 1972. Throughout the last three decades Siemens has realised several regional 'firsts', such as Oman's colour TV station. Siemens has been particularly instrumental in the rapid development of Oman's telecommunications networks, including the region's first EWSD (Siemens Digital Switching System) project in 1983 and the launch of the first totally Siemens-built GSM network in 1996.
The formation of Siemens LLC in Oman comes as the Middle East region is undergoing a
major expansion in infrastructure. "Our key strength is in helping nations build infrastructure," explains Fueller. "From industrial automation to power generation and
distribution, Siemens provides a complete range of technology. As urbanisation becomes a growing force worldwide, infrastructure must be built to integrate cost-efficient and scalable technology. At Siemens, our focus is on providing such solutions for growing societies."
"The Oman Government's strategy 'Vision 2020' is focusing on diversification away from the current reliance on oil, to fostering foreign investment and developing the tourism and petrochemical sectors" continued Fueller. "With the establishment of a fully-fledged Regional Company in Oman, Siemens will be better positioned to play a significant role in the further development of Oman, not just with physical presence but also with the expertise of our global network of innovation."
About Siemens
Siemens (Berlin and Munich) is a global powerhouse in electrical engineering and electronics. The company has around 461,000 employees working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of services for individual requirements. Siemens provides innovative technologies and comprehensive know-how to benefit customers in 190 countries. Founded more than 155 years ago, the company focuses on the areas of Information and Communications, Automation and Control, Power, Transportation, Medical, and Lighting. In fiscal 2005 (ended September 30), Siemens had sales from continuing operations of 75.4 billion and net income of 3.058 billion.
For further information please visit: www.siemens.com
Media contact
Marie-Claire Rees
Corporate Communications Manager
T: +971 4 366 0009
F: +971 4 366 0031
M: +971 50 456 9317
marie-claire.rees@siemens.com
