Siemens Financial Services to cover manufacturing systems 01 October 2014

Siemens Financial Services is extending its asset financing to the company's full range of industrial automation and management software.

The automation giant says its initiative aims to meet the growing demand from industrial organisations for manufacturing systems finance, where software, hardware and services are integrated into a single flexible package.

Brian Foster, head of industry finance at SFS in the UK, says that its packages will allow manufacturers to access higher productivity systems tailored to their cash flow requirements.

Siemens systems eligible for the financing now include:-product lifecycle management; laboratory management (including test, simulation and model-based mechatronic tools); COMOS plant collaboration software; TIA (totally integrated automation) Portal for process automation; and Simatic PLC monitoring and control.

"Today, an industrial technology solution usually embraces hardware, software and service elements, and we have worked hard to embrace all three into our financing plans," comments Foster.

"The UK's manufacturing sector currently has billions of pounds of liquidity locked in purchased equipment," he continues.

"That working capital can be released through our ... asset financing plans to be available for tactical opportunities, such as sales and marketing drives, acquisition initiatives or new product development."

Brian Tinham

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