Ge, Mitsubishi And Siemens Team Up
Siemens’ Building Technologies Group will have exclusive marketing and distribution rights in Europe for a container security solution developed by CommerceGuard AB. This agreement gives Siemens a foothold in the growth market for container security solutions. Under the agreement, Siemens Project Ventures, a subsidiary of Siemens Financial Services, has acquired a minority stake in CommerceGuard AB, a subsidiary of GE’s Security business, with an option to increase the stake later in the year. In addition to Siemens, Japan’s Mitsubishi Corporation is also a minority shareholder in CommerceGuard, which operates in Japan and elsewhere in Asia as GE CommerceGuard. The CommerceGuard solution features a Container Security Device (CSD) that magnetically adheres to the inside of an international cargo container and registers any opening of the container door. Fixed and handheld readers record its status in a database that can be accessed by authorized importers, shippers and government officials anywhere in the world. This technology expedites and accelerates the passage of cargo at seaports. The world-wide container trade moves more than 60 million containers annually, based on statistics from industry analysts Drewry Shipping Consultants. Dr. Heinrich Hiesinger, Group President of Siemens Building Technologies, noted “Working together with GE and Mitsubishi, we can vastly improve the financial security of international container traffic, thereby enhancing the safety and efficiency of global trade.” Dr. Wolfgang Bischoff, Managing Director of Siemens Project Ventures, added, “Our stake in CommerceGuard is an excellent opportunity for us to invest in the global security business. We are firmly convinced of the benefits of CommerceGuard’s innovative technology and intend to increase our stake during the course of the year.” A. Louis Parker, President & CEO of GE Security, said, “CommerceGuard is a truly international effort and Europe is a strategically important geography for our global container security solution. We are pleased that Siemens, one of the most respected companies in that region, has agreed to help bring this technology to Europe and beyond.” Jens Wegmann, President of Security Systems at Siemens Building Technologies, added “CommerceGuard is a proven security system and our stake will position us to provide a solution that gives customers immediate access to the highest security standards. At the same time, this acquisition will strengthen our business in the high-growth market for electronic security systems.” In addition to holding exclusive marketing and distribution rights in Europe, Siemens will be the preferred integration partner for CommerceGuard AB around the world, as well as the preferred IT partner.