Siemens CEO visits Solel Solar in Beit Shemesh

The trip is Peter Löscher's first visit to Israel as CEO of Siemens, which bought Solel at the end of last year.

Siemens president and CEO Peter Löscher's today visited Solel Solar Systems Ltd. in Beit Shemesh. Siemens AG (NYSE: SI; XETRA: SIE) acquired the manufacturer of thermosolar energy systems in October for $418 million.

The trip is Loescher's first visit to Israel as CEO of Siemens. After visiting Solel Solar's R&D and manufacturing facilities, he met President Shimon Peres in Jerusalem.

"Siemens has a strong commitment to Israel's unique infrastructures and technology innovation. We foresee great potential in the renewable energy technologies market, and Siemens' recent investments in this industry in Israel are in line with our strategic concept for this growing field," Löscher said.

"As a leader in the complete energy market value chain, and together with Solel's leading solar technology, Siemens and Solel are a perfect match. Siemens plans to leverage Solel's technology to further boost our green portfolio. We already have €23 billion in green sales a year, more than any other company in the world," he added.

Siemens is headquartered in Berlin and Munich, and is a global leader in electronics and electrical engineering for the industrial, energy, and healthcare sectors. The company has 410,000 employees worldwide.

Published by Globes [online], Israel business news - - on January 7, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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