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German firm to expand into Brazil’s smart grid market
A German firm is looking to expand smart grid technology in Brazil. Siemens plans to expand its presence in the important growth market Brazil – setting the course for sustainable long-term growth in the country. Plans call for investment of up to USD 1bn by 2017 to expand business operations
The company intends to invest up to USD 1bn over the next five years with the aim of strengthening and expanding its business in Brazil. Investment will span the entire Siemens portfolio – comprising the Energy, Industry, Infrastructure & Cities, and Healthcare Sectors – with a special focus on localising production and services as well as driving research and development.
A large part of the planned investment will focus on future-oriented energy markets. This includes expanding its capabilities in the forward-looking smart grid market. In April, the company opened its first R&D centre focused on developing smart grid solutions in Curitiba.
Siemens is in the process to acquire a Brazilian Smart Grid company, a leading provider of smart metering and related services. This specialist company offers software and services designed to prevent non-technical losses (NTL) of power during distribution.
“We've been doing business in Brazil for more than 100 years, and we've never been more confident about its future. That’s why we’re investing here,” said Peter Y. Solmssen, member of the managing board of Siemens AG.
Paulo Stark, CEO of Siemens Brazil, said: “Our portfolio is geared to the country’s requirements, and we’re investing continuously in order to build up our capabilities.”
Siemens Brazil has invested about USD 700m in capital expenditures and research and
development in the country over the last ten years, opening eight new factories and generating
“As its economy grows more complex, Brazil will require a more diverse range of products. That’s why we’re planning to expand our activities in areas that will be vital for the sustainable growth of the Brazilian economy,” said Solmssen.