Siemens Establishes COVID-19 Aid Fund

15 April 2020

The managing board of Siemens AG has established a COVID-19 aid fund. Through the community-serving nonprofit organization Siemens Caring Hands, this aid fund provides support to relief organizations and medical facilities, as well as to individuals impacted by the COVID-19 crisis worldwide, the company said.

All Siemens AG employees worldwide can make monetary donations to Caring Hands by specifying “COVID-19” as the purpose of the gift. Siemens AG will match every amount donated. The charity itself will then channel the funds to those who need them most.

“Both medically and socially, COVID-19 is a challenge of a kind that the world as a whole has never seen before in peacetime. Now, acting responsibly is more important than ever – for our company’s future, for the health and economic security of our workforce and business partners, but also for the cohesion of societies around the world,” said Joe Kaeser, president and CEO of Siemens AG. “Many people have helped make us the strong, successful company we are today. And now we want to help those who are doing excellent work, day in and day out, in serving the sick and needy during this time of crisis. That’s why I’m calling on our management and employees worldwide to donate generously. Every euro counts. I want to start things off by personally contributing €1 million.”

As an alternative or as a supplement, the managing board and senior management will also have the option of voluntarily waiving vacation time. Siemens will then donate a corresponding amount to Caring Hands by reversing accruals for this purpose. The company does not plan to match this donation avenue.

As a nonprofit organization, Caring Hands will use the donations to support coordinated projects, aid programs and purchase urgently needed products. The goal is to deliver aid rapidly and unbureaucratically to people affected by the coronavirus pandemic worldwide. The Board of Caring Hands will manage the aid fund distribution.

With the unprecedented impact of the coronavirus (COVID-19) on the industry, COMPRESSORTECH2 will provide updated coverage across its website. If you have news to share, please contact editor DJ Slater at [email protected]

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