Siemens AG, the biggest supplier of turbines to generate power from offshore wind, plans to keep its lead even as more competitors enter the market, management board member Wolfgang Dehen said.
Osram Licht AG, the world’s second- biggest lighting company, boosted its savings target by 200 million euros ($267 million) after reporting fourth quarter net income that missed analyst estimates.
Osram AG, the lighting business of Siemens AG, will cut about 10 percent of its employees in Germany as demand for traditional bulbs declines.
Siemens AG picked Deutsche Bank AG, Goldman Sachs Group Inc. and UBS AG as global coordinators for the initial public offering of its Osram GmbH lighting unit later this year.
"We have always stressed that the transformation of the lighting market will also continue after 2014 and that it will require additional capacity adjustments."
- Wolfgang Dehen on Jul 29, 2014