Siemens And Wasion Establish Joint Venture For Smart Metering Solutions

Nuremberg, Germany - In September 2012, Siemens Infrastructure & Cities joined forces with Changsha-based Wasion Group Ltd., one of the leading Chinese manufacturers of smart meters, to create Smart Metering Solutions (Changsha) Co. Ltd; Siemens holds a majority share in the joint venture. The new business will focus on the development and marketing of software for managing meter data. After acquiring U.S.-based meter data management specialist eMeter in January 2012, Siemens now has the leading expertise worldwide in this business. In addition, in the framework of outsourcing contracts the joint venture will offer operational services in China such as the operation of software platforms at customer facilities, the collection of data, as well as high-end consultation services. These services include, for example, data analysis and the early detection of problems and their solutions. Startup of the joint venture is subject to approval by the antitrust authorities.

According to studies, annual growth in the mid-double-digit range is expected for meter data management systems in the Chinese market. "By joining forces with Wasion, we will significantly advance our business with meter data management solutions on the Chinese market. We are contributing our expertise and our experience with the EnergyIP meter data management system, which has become an integral part of our portfolio following our acquisition of eMeter," said Jan Mrosik, CEO of the Smart Grid Division in the Siemens Infrastructure & Cities Sector. "For us, the joint venture is an additional milestone on our way to becoming one of the leading global suppliers of solutions for smart grids. Collection and analysis of consumption and network data is considered to be one of the keys to the intelligent management of supply networks of the future."

"According to our joint venture, Wasion can sell its smart power, water and gas metering products to countries outside China through the global sales network of Siemens," said Ji Wei, Chairman of the Board of Directors of Wasion Group. Siemens and the Chinese meter manufacturer have been working together in a strategic partnership since May 2010. In late December 2011 both companies signed a supply agreement, paving the way for the joint venture in Changsha.

The Wasion Group is a leading supplier of advanced energy metering products and solutions, which has been listed on the Hong Kong Stock & Exchange Market since 2005. By the end of 2011, Wasion had approximately 3250 employees, with net sales in excess of EUR240 million. Wasion is engaged in the development and manufacture of electronic energy meters, water meters, gas meters, data collection terminals and metering systems. The product portfolio covers residential, commercial, industrial and grid meters as well as metering and management solutions. By the end of 2011, it had production capacity of three million units of three-phase electricity meters, ten million units of single-phase meters and one million units of data collection terminals per year. Wasion invests more than six per cent of its annual revenue in R&D and technological innovation.

Energy-efficient, eco-friendly solutions for setting up intelligent power supply networks (Smart Grids) are part of Siemens' Environmental Portfolio. In fiscal 2011, revenue from the portfolio totalled nearly EUR30 billion, making Siemens one of the world's largest suppliers of eco-friendly technologies. In the same period, the company's products and solutions enabled customers to reduce their carbon dioxide (CO2) emissions by nearly 320 million tons, an amount equal to the total annual CO2 emissions of Berlin, Delhi, Hong Kong, Istanbul, London, New York, Singapore and Tokyo.