Siemens' CEO Says Company 'Robust' But Expects Softer 2H '11
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Siemens AG (NYSE: SI) shares are trading lower Tuesday following comments from CEO Peter Loescher in a German newspaper.
Loescher sees the industrial environment as "undoubtedly better" than what financial markets are indicating, and says "we should remain calm." He also thinks Siemens is "robust."
Amid the bullish tone from the CEO, he threw in some caution, saying growth will be slower in the second half of 2011 versus 2010, due to easing of "pent up" demand from corporations.
Loescher believes Siemens' lamp and lighting company, Osram, would benefit from an IPO, saying it would open doors such as entering into ventures with other lamp producers. Siemens planned to remain a minority shareholder in the unit. No further color was made about the potential offering.
Shares of Siemens are down 5.8 percent to $92.81 on the NYSE Tuesday morning.
Loescher sees the industrial environment as "undoubtedly better" than what financial markets are indicating, and says "we should remain calm." He also thinks Siemens is "robust."
Amid the bullish tone from the CEO, he threw in some caution, saying growth will be slower in the second half of 2011 versus 2010, due to easing of "pent up" demand from corporations.
Loescher believes Siemens' lamp and lighting company, Osram, would benefit from an IPO, saying it would open doors such as entering into ventures with other lamp producers. Siemens planned to remain a minority shareholder in the unit. No further color was made about the potential offering.
Shares of Siemens are down 5.8 percent to $92.81 on the NYSE Tuesday morning.
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