Siemens CEO Joe Kaeser attends a news conference ahead of the companys annual shareholders meeting in Munich, Germany, January 31, 2018. REUTERS/Michael Dalder
MUNICH: German engineering group Siemens posted a 14% decline in quarterly industrial profit as it struggled with continued weak demand from the power and gas sector and ramped up investments in its flagship factory software.
“The declining market for fossil power generation is not a temporary slump.
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