Siemens AG says it expects demand for products from its industrial division to stabilize this year after the economic downturn hit spending on big-ticket items.
Munich-based Siemens said Friday that — assuming there is a steady economic recovery — new orders in the sector should reach the level of its 2009 fiscal year, which ended in September. It expects revenue for the company's biggest division to fall slightly.
In the last fiscal year, Siemens' industry sector had orders of 33.3 billion euros ($45 billion) and revenue of nearly 34 billion euros.
The industrial sector includes building technologies, transport systems, and the Osram lighting unit.
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