Siemens AG has further solidified its presence in Pakistan by acquiring an additional 13.85% stake in Siemens (Pakistan) Engineering Company Limited (SIEM).
This acquisition, valued at approximately Rs1.7 billion, brings Siemens AG’s total shareholding in SIEM to nearly 89%. The German conglomerate acquired the shares from the National Investment Trust Limited (NIT).
SIEM is a leading provider of electronic and electrical capital goods and project execution services in Pakistan. The company operates in various sectors, including power and gas, power generation services, energy management, digital factory, process industries and drives, and mobility.
This strategic move by Siemens AG underscores its commitment to the Pakistani market and its confidence in SIEM’s future growth prospects. The increased stake will enable Siemens AG to further strengthen its position in the country and drive innovation in key sectors.
