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Siemens expects even stronger impact from pandemic on business development

Oil&Gas Materials 18 May 2020 10:55 (UTC +04:00)
Siemens expects even stronger impact from pandemic on business development

BAKU, Azerbaijan, May 18

By Leman Zeynalova – Trend:

Germany-based Siemens company, which also has an office in Baku, Azerbaijan, expects even stronger impacts from the pandemic on business development in our fiscal third quarter, the company told Trend.

“Siemens performed solidly in the second quarter of fiscal 2020 (Jan 1st – March 31st) even as the economic consequences of the COVID-19 pandemic began to impact our operations and our financial results. We expect even stronger impacts from the pandemic on business development in our fiscal third quarter. Beyond the third quarter of fiscal 2020, macroeconomic developments and their influence on Siemens currently cannot be reliably assessed,” said the company.

Siemens said operations are up and running near normal levels. Around 20 factory sites are closed, mainly in India.

Siemens has an office in Baku and offers the products and solutions of its portfolio.

"In Azerbaijan, Siemens is presently, among other things, doing product business for the high voltage transmission business as well as spare part and service for the gas and power generation side," said the company.

“The health and safety of our employees and partners are always our top priority. Beyond the company, we also consider it our duty to act responsibly and to do our part to protect society. We’re continuously monitoring the situation, assessing all new developments and taking appropriate steps to protect our employees. We’re sensitizing our employees to the need to reduce their social contacts and informing them about preventive and hygienic measures. We’re also complying, of course, with all instructions issued by government authorities – both national and international,” said the company.

Siemens is a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world’s largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. In infrastructure and industry solutions the company plays a pioneering role.

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Follow the author on Twitter: @Lyaman_Zeyn

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