Siemens is acquiring a specialist smart grid company as part of a $1 billion investment over the next 5 years, further extending it’s capabilities in the smart grid market.
According to a statement, the “specialist company” is “a leading provider of smart metering and related services” which “offers software and services designed to prevent non-technical losses of power during distribution.”
The company opened it’s first research and development centre last month, which is focused on developing smart grid solutions in Curitiba, in the southern state of Parana.
The statement says that a large part of the investment will be used on future-orientated energy markets. In addition to this, it will also include a $60 million investment in a factory in Brazil which will produce motors for the domestic and export markets. There will also be a new R&D centre opened in Rio de Janeiro, geared to the gas and oil industry.
“As its economy grows more complex, Brazil will require a more diverse range of products,” commented Peter Y. Solmssen, member of the Managing Board of Siemens AG. “That’s why we’re planning to expand our activities in areas that will be vital for the sustainable growth of the Brazilian economy.”
Other areas of the investment are healthcare sectors, industry, infrastructure and cities, and a focus on localizing production and services and driving research and development.