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by Mark Halper, ME Editorial Staff Posted on Tuesday, June 24, 2008 3:54:47 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | The industrial conglomerate said it will reap €25 billion in revenue from eco-minded products by 2011, but sounded a cautionary note on the global economy. |
| Keywords: | Green products, Siemens green products |
LONDON — In an effort to show that “green” can also mean business, German industrial giant Siemens staked out a goal to generate €25 billion in revenue by 2011 by selling products and services from what CEO Peter Loscher called its “environmental portfolio.”
He warned, however, against the effect that the slowing economy will have on Siemens’ business in general in the near term.
Speaking to a gathering of international journalists at the Siemens Media Summit here, Loscher said that Siemens last year generated about €17 billion, or roughly a quarter of its revenue, from selling environmentally conscious products. He’s targeting 10% annual growth for that metric. “We’re significantly outpacing our competitors in this area,” Loscher claimed. “In 2011, we intend to generate some €25 billion with eco-friendly products and solutions.”
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