Siemens looks for faster growth in smart buildings, mulls acquisitions

The Siemens logo is seen on a building in Siemensstadt in Berlin, Germany, October 31, 2018. REUTERS/Hannibal Hanschke

ZUG, Switzerland (Reuters) – Siemens (SIEGn.DE) wants to grow its building technologies business faster than the overall construction market next year with help from potential acquisitions, the business’ Chief Executive Matthias Rebellius said on Tuesday.

The business, which has its head office in Zug, makes devices and software to control the heating, lighting, energy use and security in so-called smart buildings.

Rebellius said he expected the overall construction market to grow by around 3 percent next year, with Siemens taking market share from rivals including Johnson Controls (JCI.N) and Honeywell (HON.N).

Reporting by John Revill

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