Siemens Metals Technologies has begun transitioning from steel mill engineering and project development to focus on offering more lifecycle solutions for the metallurgical industry, said Werner Auer, CEO of the Siemens AG (IW 1000/26) business unit.
With current steel capacity satisfying global demand and a need for asset management at aging facilities, the Linz, Austria-based unit sees increasing opportunities in plant modernization, said Auer at the Siemens Metals Technologies media summit in Mexico City May 22.
The demand for high-quality steel places increasing pressure on steelmakers to upgrade their plants with new automation packages and IT applications, Auer said.
"The change from a manufacturer market to a buyer market has made the global competition in the steel world even tougher and has set new standards for steel production," Auer said.
Siemens has expanded its offerings of predictive maintenance technologies that monitor and provide data about equipment.
