Siemens Environmental Products Sales Rise 11 Pct

GEORGE FREY

FRANKFURT (AP) — German industrial conglomerate Siemens AG said Tuesday its revenue on environmental products rose by 11 percent over the past year and that it had received an order for wind turbines from Mexico — its first ever from Latin America.

Siemens, based in Munich, said it generated revenue of euro23 billion ($34 billion) in its environmental portfolio, up from the euro20.7 billion in 2008.

The company said energy-saving motors, solar inverter systems and components for energy-saving buildings were among the products that added to the improvement.

"Our green products and solutions are contributing to stabilizing our business during the economic crisis," Barbara Kux, the company's chief sustainability officer, said in a statement.

Siemens said earlier this year it expected governments of the world's 20 largest economies to spend about $430 billion (euro306 billion) in the next several years to improve infrastructure such as power grids and transportation networks to become more efficient and environmentally friendly. Siemens said it hoped to benefit from the trend and to increase the environmental portfolio's revenue to euro25 billion by 2011.