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Siemens forecasts China sales to outstrip U.S.

Published on .

MANILA--Siemens AG expects its annual businessvolume in China to exceed its annual turnover in the U.S.,worth about $4.4 billion, in the next 10 years, according to Siemens, China, President Ernts Berens.

Siemens plans to open subsidiaries and representative offices in the cities of Hangzhou, Xiamen, Nanjing, Nanchang, Guiyang, Nanning and Urumqi.

Siemens' sales in China are $2.2 billion, almost a thirdthe company's total annual sales in the Asia-Pacific region. Its presence in China is limited to 12 wholly owned businesses and 44 joint ventures, with a total 26,000 employees.

Copyright August 1999, Crain Communications Inc.

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