Posted on Dec 09, 2009 | 13:12
Siemens (NYSE:SI, ETR:SIE) announced December 7 that it plans to invest more than RMB 500 million, in addition to an RMB 1.35 billion investment in green business announced in early 2009, in Tianjin-based operating companies Siemens Mechanical Drive Systems and Winergy Drive Systems over the next 3-5 years. Part of the investment will go towards expanding production of wind turbine gear boxes to meet China's growing demand, the announcement said.
China's goal of reducing carbon emissions per unit of gross domestic product by 40-45% below 2005 levels by 2020 will require large-scale deployment of advanced technology, said Siemens AG President and CEO Peter Loscher.
Source: http://www.jlmpacificepoch.com/newsstories?id=160259_0_5_0_M
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