Siemens Receives Award for Best Key Account Management

ORLANDO, Fla. and MUNICH, May 18, 2011 /PRNewswire/ -- Siemens AG has been recognized by the Strategic Account Management Association (SAMA) for its successful customer management program. Siemens CEO Peter Loscher accepted the award for best key account management program in Orlando, Florida. "Proximity to our customers is decisive for our business success. I myself spend more than half my time with customers," noted Loscher. Regarding the award, SAMA President and CEO Bernhard Quancard explained, "Siemens impressed us with its ongoing cultivation of customer relationships, its fostering of promising and talented sales employees and its practical implementation of customer proximity at the Managing Board level."

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Under the company's Executive Relationship Program, the ten members of Siemens' Managing Board cultivate contacts with some 80 top customers. In order to better meet the needs of Siemens' international customers, Managing Board meetings have for several years regularly been held outside Germany and have also entailed customer participation. Most recently, the Managing Board convened in China, India, Brazil, Russia, the U.S. and Mexico, among other countries.

Worldwide, more than 1,200 key account managers at Siemens serve over 2,000 customers, who generate 40 percent of the company's revenue. To further expand its key account management system, Siemens is investing an amount in the triple-digit millions-of-euros range in the medium term. The investments will be used, among other things, to further expand the key account management system, provide training and continuing education for sales employees and develop improved software for managing customer processes.

The Strategic Account Management Association (SAMA) is the benchmarking and competency-building leader in the art and science of strategic customer-supplier collaboration.   Since 1964, SAMA has been a knowledge-sharing organization devoted to developing, promoting and advancing the concept of strategic account management through communities of practice.  Based in Chicago USA, SAMA's value comes from the 5000+ individual members and 57 corporate members who are willing to benchmark and share best practices. For further information, visit www.strategicaccounts.org.

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world's largest provider of environmental technologies. More than one-third of its total revenue stems from green products and solutions. In fiscal 2010, which ended on September 30, 2010, revenue from continuing operations (excluding Osram and Siemens IT Solutions and Services) totaled euro 69 billion and net income from continuing operations euro 4.3 billion. At the end of September 2010, Siemens had around 336,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at: www.siemens.com.

This document contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words such as "expects," "looks forward to," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "project" or words of similar meaning. Such statements are based on the current expectations and certain assumptions of Siemens' management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens' control, affect Siemens' operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. In particular, Siemens is strongly affected by changes in general economic and business conditions as these directly impact its processes, customers and suppliers. This may negatively impact our revenue development and the realization of greater capacity utilization as a result of growth. Yet due to their diversity, not all of Siemens' businesses are equally affected by changes in economic conditions; considerable differences exist in the timing and magnitude of the effects of such changes. This effect is amplified by the fact that, as a global company, Siemens is active in countries with economies that vary widely in terms of growth rate. Uncertainties arise from, among other things, the risk of customers delaying the conversion of recognized orders into revenue or cancelling recognized orders, of prices declining as a result of adverse market conditions by more than is currently anticipated by Siemens' management or of functional costs increasing in anticipation of growth that is not realized as expected. Other factors that may cause Siemens' results to deviate from expectations include developments in the financial markets, including fluctuations in interest and exchange rates (in particular in relation to the U.S. dollar and the currencies of emerging markets such as China, India and Brazil), in commodity and equity prices, in debt prices (credit spreads) and in the value of financial assets generally. Any changes in interest rates or other assumptions used in calculating obligations for pension plans and similar commitments may impact Siemens' defined benefit obligations and the anticipated performance of pension plan assets resulting in unexpected changes in the funded status of Siemens' pension and other post-employment benefit plans. Any increase in market volatility, deterioration in the capital markets, decline in the conditions for the credit business, uncertainty related to the subprime, financial market and liquidity crises, or fluctuations in the future financial performance of the major industries served by Siemens may have unexpected effects on Siemens' results. Furthermore, Siemens faces risks and uncertainties in connection with: disposing of business activities, certain strategic reorientation measures; the performance of its equity interests and strategic alliances; the challenge of integrating major acquisitions, implementing joint ventures and other significant portfolio measures; the introduction of competing products or technologies by other companies or market entries by new competitors; changing competitive dynamics (particularly in developing markets); the risk that new products or services will not be accepted by customers targeted by Siemens; changes in business strategy; the interruption of our supply chain, including the inability of third parties to deliver parts, components and services on time resulting for example from natural disasters; the outcome of pending investigations, legal proceedings and actions resulting from the findings of, or related to the subject matter of, such investigations; the potential impact of such investigations and proceedings on Siemens' business, including its relationships with governments and other customers; the potential impact of such matters on Siemens' financial statements, and various other factors. More detailed information about certain of the risk factors affecting Siemens is contained throughout this report and in Siemens' other filings with the SEC, which are available on the Siemens website, www.siemens.com, and on the SEC's website, www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the relevant forward-looking statement as expected, anticipated, intended, planned, believed, sought, estimated or projected. Siemens neither intends to, nor assumes any obligation to, update or revise these forward-looking statements in light of developments which differ from those anticipated.

SOURCE Siemens Corporation