Businessweek

This sector’s principal competitors include multinational companies, such as ABB, Alstom, Ansaldo, Bombardier, General Electric, Honeywell, Johnson Controls, Schneider Electric, and Tyco. The primary competitors of the Rail Systems division and the Mobility and Logistics division include Alstom, Ansaldo, Bombardier, and General Electric. The primary competitors of the Low and Medium Voltage division include ABB, General Electric, Honeywell, and Schneider Electric. The principal competitors of the Smart Grid division include ABB, Alstom, General Electric, and Schneider Electric. The major competitors of the Building Technologies division include Honeywell, Johnson Controls, Schneider Electric, and Tyco. EQUITY INVESTMENTS The primary investments within Equity Investments are: A stake of approximately 50.0% in Nokia Siemens Networks B.V. (NSN), the Netherlands: NSN includes the carrier-related operations of the company and the Networks Business Group of Nokia. NSN is a supplier in the telecommunications infrastructure industry. A 50.0% stake in BSH Bosch und Siemens Hausgeräte GmbH (BSH), Germany: BSH is a manufacturer of household appliances, offering a range of products tailored to customer needs and global megatrends alike. A 49.0% stake in Enterprise Networks Holdings B.V. (EN), the Netherlands: EN is a provider of open communications, network, and security solutions to enterprise customers. Financial Services This segment provides various financial services and products both to third parties and to the company’s other entities and their customers. This segment conducts its business through seven business units: Commercial Finance; Project and Structured Finance Energy; Project-, Structured, and Leveraged Finance Healthcare; Project- and Structured Finance Infrastructure and Cities & Industry; Treasury; Financing Services & Investment Management; and Insurance. In addition, Financial Services has one business segment (Venture Capital). The Financial Services’ functions Trade Finance Advisory and Corporate Pensions provide advisory and assistance services to the company. Commercial Finance This business unit offers a range of equipment finance, leasing, rental, and related financing solutions to organizations of all sizes to finance equipment supplied by the company or third-party providers. The focus of Commercial Finance financing solutions is in the medical, industrial, construction, environmental/energy, and IT areas. Commercial Finance has customers through various countries, including small- and medium-sized enterprises, corporations, and public sector organizations. Services are provided through a network of Commercial Finance companies, located in 13 countries throughout Europe, the Asia Pacific, and North America, including regulated, partially, or non-regulated entities. Project & Structured Finance Energy; Project, Structured, & Leverage Finance Healthcare; and Project & Structured Finance, Infrastructure and Cities & Industry These business units offer a range of financing solutions in the energy and natural resource, healthcare, industry, and infrastructure markets. Their products comprise debt financing and equity participations, as well as financial advisory. In addition, the Project, Structured & Leveraged Finance Healthcare Business Unit offers leveraged solutions across all businesses. In debt financing, these business units offer solutions ranging from senior secured corporate loans to mezzanine debt and from structured investment financing to infrastructure and project financing. In their financial advisory roles, these business units structure, arrange, and implement project and structured financing worldwide. Treasury This business unit is mandated by the Corporate Treasurer to provide treasury services to the company’s entities. These activities comprise cash management and payment (including intercompany payments) services, as well as the company’s external financing activities (primarily capital market financing). In addition, it pools and manages centralized the company’s interest rate risk, certain currency, and commodity risk exposures and uses