Siemens Pakistan

Siemens Pakistan

Company type	Public
Traded as	PSX: SIEM
Industry	Engineering
Founded	1953
Headquarters	Karachi , Pakistan
Area served	Pakistan
Key people	Bernhard Niessing Chairman Marcus Erich Strohmeier MD Umer Jalil Anwer CFO[1]
Products	Communication systems, power generation technology, industrial and buildings automation, lighting, medical technology, railway vehicles, water treatment systems, home appliances, fire alarms, PLM software
Services	Business services, financial engineering, project and construction management
Revenue	Rs. 29.351 billion (US$100 million) (2023)
Operating income	Rs. 2.554 billion (US$8.8 million) (2023)
Net income	Rs. 970.844 billion (US$3.4 billion) (2023)
Total assets	Rs. 38.850 billion (US$130 million) (2023)
Total equity	Rs. 7.789 billion (US$27 million) (2023)
Owner	Siemens AG (88.51%)
Number of employees	498 (2023)
Parent	Siemens
Website	siemens.com.pk
Footnotes / references Financials as of 30 September 2023^[update] [2]

Siemens (Pakistan) Engineering Company Limited is a Pakistani engineering services company headquartered in Karachi.^[3] It is a subsidiary of Siemens AG.

Active since 1953, Siemens Pakistan is one of the largest providers of engineering services and management in the country, with overseeing ongoing projects in healthcare, defence development, energy,^[4] telecommunications, computer expansion and heavy construction management.^[5]

History

Siemens presence in the region dates back to 1870 with the construction of the Indo-European telegraph line from London to Calcutta. Siemens established its first office in the area now known as Pakistan in 1922.^[6][7]

In 1952, Siemens formed a joint venture with the Government of Pakistan to establish the Telephone Industries of Pakistan (TIP), a telephone equipment manufacturing company, with 30 percent stake.^[8][9] TIP produced rotary telephones branded with "TIP" on their dials, which were commonly used in many Pakistani households during the 1990s and earlier.^[8] These telephones were manufactured at the TIP facility in Haripur, which was established with Siemens' assistance.^[8] Siemens formally incorporated its subsidiary in Pakistan as a private limited company in 1953, and later reorganized as a public limited company in 1963.^[6] When founded, Siemens Pakistan was originally focused on providing the network of communications, but its role in the energy sector has grown since 1987.^[6][10][11]

In July 1978, Siemens was listed on the Karachi Stock Exchange.^[8][12]

Since 1997, Siemens has awarded medals to engineering students across Pakistani universities and runs a three-year apprenticeship course in Karachi.^[6]

By 2002, over 50 percent of telephone networks in Pakistan were using Siemens Pakistan's EWSD technology.^[13]

In 2005, Siemens acquired Carrier Telephone Industries from PTCL under the privatization scheme of the Government of Pakistan.^[14][15]

In April 2015, Siemens sold its distribution transformer manufacturing business along with assets of land and building in Sindh Industrial and Trading Estate for $32 million.^[16][17]

In August 2015, Siemens Pakistan decided to transfer its healthcare business sector to a private limited company headquartered in Lahore, Pakistan.^[18] In December 2015, healthcare business ownership was transferred to the German company Siemens Healthcare.^[19]

Services

• Power and gas^[18]
• Wind and renewable power^[18]
• Power generation services^[18]
• Energy management^[18]
• Mobility^[18]
• Digital factory^[18]
• Process industries and drive^[18]
• Healthcare^[18]

References

1. "Corporate Governance". Corporate Governance. Retrieved 26 August 2014.
2. "Siemens Pakistan Annual Report 2023". Retrieved 29 August 2024.
3. "Siemens Pakistan profile". Siemens Pakistan profile. Retrieved 26 August 2014.
4. "Siemens Energy Sector". Siemens Energy Sector. Retrieved 26 August 2014.
5. "Siemens Pakistan". Siemens Pakistan. Retrieved 26 August 2014.
6. "Siemens in Pakistan since 1922". Brecorder. October 18, 2006.
7. "Siemens Pakistan: Rightful place among the top 25". Brecorder. December 3, 2004.
8. Tirmizi, Taimoor Hassan, Farooq (April 22, 2019). "Pakistanis are starting to spend more on healthcare. Siemens is counting on it". Profit by Pakistan Today.
9. "Phone factory facing closure". DAWN.COM. July 10, 2006.
10. "Milestons of Siemens Pakistan". Milestons of Siemens Pakistan. Retrieved 26 August 2014.
11. "Technological solutions by Siemens Engineering". Technological solutions by Siemens Engineering. Retrieved 26 August 2014.
12. "Karachi Stocks | Live SIEM". khistocks.com.
13. "Siemens delivers technology to PTCL". DAWN.COM. July 11, 2002.
14. "Sale of 8016 PTCL shares in CTI to Siemens approved". Brecorder. September 13, 2005.
15. "Siemens to bid for PTCL subsidiary". DAWN.COM. July 28, 2004.
16. "Siemens to sell transformer business". DAWN.COM. March 4, 2014.
17. "Siemens to sell assets in Karachi". transformers-magazine.com.
18. Hussain, Dilawar (August 3, 2015). "Siemens' focus on core business". DAWN.COM.
19. "Siemens Pakistan to spin off healthcare business". DAWN.COM. December 20, 2015.