Reuters: Technology News: Siemens aims to save 6 billion euros by 2014

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Siemens aims to save 6 billion euros by 2014 Nov 8th 2012, 06:02 Tweet Share this Email Print Related News Siemens in talks to sell solar business Mon, Oct 22 2012 Analysis & Opinion VW relaunches mandatory convertible market Related Topics Investing Simplified » Tech » The logo of Siemens AG company is pictured atop a factory in Berlin October 9, 2012. Credit: Reuters/Fabrizio Bensch BERLIN | Thu Nov 8, 2012 1:02am EST BERLIN (Reuters) - Germany's Siemens said it aims to save 6 billion euros ($7.65 billion) by 2014, more than expected, as the engineering conglomerate fights to stay competitive in a weak global economy. Munich-based Siemens said on Thursday it aims to improve its margin on operating profit from its four core businesses to at least 12 percent from 9.5 percent last year, as it reported quarterly earnings that were slightly better than expected. As part of its plan to improve profitability, Siemens announced it will buy Belgian industry software maker LMS International for about 680 million euros and sell water businesses with annual sales of about 1 billion euros. ($1 = 0.7840 euros) (Reporting by Maria Sheahan) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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