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Siemens AG Chief Executive Officer Peter Loescher said the German engineering company is no longer ``immune'' to the effects of the global economic crisis in an interview in Handelsblatt newspaper.

The environment has become ``significantly worse'' since January, Loescher is cited as saying.

A slump in demand at the industrial and medical technology units may put Siemens's goal for 8.5 billion euros ($11.5 billion) profit in the current fiscal year in danger, the newspaper said.

 

Source: Bloomberg