Eastern Europe Slows Siemens Austria Down

People ♦ Published: February 9, 2011; 00:43 ♦ (Vindobona)

The pre-crisis level has not been reached yet, says CEO Hesoun. Public savings programs prevent the technology company's growth.

Eastern Europe Slows Siemens Austria Down / Picture: © Siemens AG Österreich / Rita Newman

In an interview with the daily "Presse", the CEO of Siemens Austria, Wolfgang Hesoun, says that the company was still far from the pre-crisis levels. 2010/11 will be a "tough year". Siemens suffered a sales decline in 2009/10, as part of the consequences of the sale of the Software Division SIS.

The reason for this situation is the weak development of orders throughout the CEE…