Siemens Expands Energy & Project Finance Offering to Include Infrastructure Lending

ISELIN, N.J., Dec. 21, 2010 /PRNewswire/ -- Siemens Financial Services, Inc. (SFS Inc.), the U.S. unit of Siemens' Financial Services division, recently announced it will be expanding its energy and project finance offering to include infrastructure lending through senior secured and other debt financing solutions, effective immediately.  As part of this expansion, Flavio Zelaya has joined SFS Inc. as vice president, Infrastructure Finance and is tasked with spearheading this initiative.

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"Expanding our energy and project finance platform to include infrastructure projects will enable SFS Inc. to support the capital needs of project developers, lenders and investors focused on improving North America's infrastructure," Kirk Edelman, president and chief executive officer, SFS Inc. said.

"This new focus on the infrastructure market rounds out our existing financing activities in the power, and oil & gas sectors," said Guy Cirincione, senior vice president and general manager, Energy and Project Finance, SFS Inc. "Our mission continues to be to provide significant amounts of capital to our clients in these sectors to aide in their growth."

Zelaya has 15 years of structured and corporate finance experience and joins SFS Inc. from Dexia Credit Local in New York, where he served as Vice President in its project finance origination and structuring team.  In that role, his principal focus was project finance and acquisition finance transactions in the transportation, social infrastructure, and water and waste sectors.

Zelaya will be based out of the Iselin, New Jersey office.

The Siemens cross sector Financial Services (SFS) is an international provider of financial solutions in the business-to-business area. With about 2,000 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, SFS supports Siemens as well as non-affiliated companies, focusing on the three sectors of energy, industry and healthcare. SFS finances infrastructure, equipment and working capital and act as a competent manager of financial risks within Siemens. For more information see: www.siemens.com/finance

Siemens Financial Services, Inc. (SFS Inc.) is a leading provider of business-to-business financial services in the United States. SFS is a committed business ally that combines deep industry expertise with integrated financing solutions to enhance the efficiency, productivity, and competitiveness of its customers. The company, based in Iselin, NJ, enables business expansion for thousands of customers in the healthcare, energy, and industrial sectors by providing customized solutions that range from equipment financing and working capital to project and export finance, and insurance solutions. Further information on Siemens Financial Services in the United States: www.usa.siemens.com/finance

About Siemens

Siemens AG (NYSE: SI) is a global powerhouse in electronics and electrical engineering, and operates in the industry, energy and healthcare sectors.  For more than 160 years, Siemens has built a reputation for leading-edge innovation and the quality of its products, services and solutions.  With 405,000 employees in 190 countries, Siemens reported worldwide revenue of $104.3 billion in fiscal 2009.  With its U.S. corporate headquarters in New York City, Siemens in the USA reported revenue of $21.3 billion and employs approximately 64,000 people throughout all 50 states and Puerto Rico.  For more information on Siemens in the United States, visit www.usa.siemens.com  

SOURCE Siemens Financial Services, Inc.