German industrial conglomerate Siemens AG is seeking to expand its water-treatment business through acquisitions
German industrial conglomerate Siemens AG is seeking to expand its water-treatment business through acquisitions.
Siemens Water Technologies is part of the Group’s Industrial Solutions and Services division. The division reported sales of US $11.67 billion (8.82 billion euros) for the fiscal year end September 2006, representing around 10% of group sales.
It is seeking small to medium-sized acquisitions to fill gaps in its portfolio or jump-start its operations in new markets. Siemens has made ten acquisitions since it entered the water treatment sector in 2004 with the US $1 billion purchase of US Filter.