Rio de Janeiro, Brazil — (METERING.COM) — May 30, 2012 – As part of an up to $1 billion investment over the next five years in Brazil, Siemens is expanding its capabilities in the smart grid market, with the acquisition currently under way of an as yet unnamed smart grid company.
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.”
This follows the opening by the company last month of its first research and development center focused on developing smart grid solutions in Curitiba, in the southern state of Paraná.
The statement says that “a large part” of the planned $1 billion investment will focus on future-oriented energy markets. In addition to the smart grid market investments, this will include an initial investment of about $60 million in a new factory in Brazil to produce high and low voltage motors and generators both for the domestic market and for export. Also this year a new R&D center geared to the oil and gas industry will be opened in Rio de Janeiro.
“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 investment areas include the industry, infrastructure and cities, and healthcare sectors, with a special focus on localizing production and services as well as driving research and development.