Siemens Ltd has informed BSE about the Press Release by Siemens AG, Germany on April 04, 2008, with regard to the completion of its acquisition of Morgan Construction Company, USA.

In this regard the Company has made the following Press Release:

Siemens VAI Strengthens its Portfolio of Products and Services:

Acquisition of rolling MIII Specialist Morgan Construction completed

With the agreement of all of the responsible authorities, Siemens has now taken over Morgan Construction Co., the rolling mill specialist based in Worcester, Massachusetts, USA. This Company achieved sales of USD 230 million in 2007, and employs some 1,100 people in the USA, China, India, the U.K and Brazil. Morgan Construction will be managed as a Siemens Group Company by Siemens VAI Metals Technologies, Linz/Austria, a business unit in the Industry Solution Division.

Morgan Construction is a worldwide supplier of wire mill equipment for the long-product sector, and has constructed over 500 wire, bar and billet mills in more than 40 countries. Dr. Richard Pfeiffer, CEO of Siemens VAI Metals Technologies, said, “combining Morgan’s products and know-how with Siemens’ automation competence for equipping wire mills and for manufacture long products. The integration of these two Companies will enable us to set the market standards for future technological development. This takeover of Morgan’s production plants will also enhance Siemens VAI’s own value chain in the U.S., Indian and Chinese markets.” Dr. Pfeiffer emphasized, “The engineering and service capacities we are gaining from Morgan will also further strengthen the support we can offer our customers in these countries, from modernizing and upgrading plants to spare-part management and retrofitting.”

The Siemens industry Solutions Division (Erlangen, Germany) combined with Siemens VAI Metal Technologies (Linz, Austria), Siemens Water Technologies (Warrendale, Pennsylvania, USA), and Industry Technologies (Erlangen, Germany) is one of the world’s leading suppliers of solutions and services for Installations in the fields of industry and infrastructure. Using its own products, systems and process technologies, industry Solutions develops and builds plants for end customers, commissions them and provides support during their entire life cycle.