Siemens acquires OEZ in the Czech Republic

Consolidation in low-voltage controls and distribution and electrical installation technology

Nuremberg, Feb 19, 2007 - Siemens Automation and Drives (A&D) has signed an agreement for the acquisition of majority shares in the OEZ company in Letohrad, Czech Republic. OEZ is the market leader in the Czech Republic and Slovakia for low-voltage controls and distribution and electrical installation technology and is active in with branches in Russia, Poland and the Ukraine in Eastern Europe. With its 1,300 employees, OEZ generated sales of 41 million euros in fiscal 2005. Both parties have agreed not to disclose the purchase price. The transaction is subject to approval by the relevant authorities.

“This is an important step to positioning Siemens low-voltage controls and distribution as well as electrical installation technology in the Eastern European markets. In future, we will be able to offer our customers products the entire spectrum for the low, medium and high-end performance range. Acquiring this profitable vendor will make Siemens the market leader in the Czech Republic and Slovakia and the well-known OEZ names are an excellent addition to our portfolio”, explained Rudolf Martin Siegers, Head of Low-Voltage Controls and Distribution at Siemens A&D.

The Eastern European market for industrial switchgear and protection systems has until now been mainly a market for products in the lower and medium performance ranges. Technological developments, however, will soon increase the demand for high-performance products.

“We intend to merge the already-established markets and customers of OEZ with Siemens know-how in the high-end range. We plan to continue using the OEZ name and supplement the portfolio with Siemens products. In addition, chances for growth for OEZ will be increased by access to research and development as well as sales and logistics. In future, we will be able to completely meet all customer requirements”, says Godehardt Schneider, Head of the Electrical Installation Technology Division at A&D.

Switchgear and protection system engineering, fuse and distributor systems are used in all sectors of industrial manufacturing. In Eastern Europe, the focus is on the raw materials processing, for example in the power generation, chemicals and metalworking industries.

The Siemens Automation and Drives Group (A&D), Nuremberg, Germany, is the leading manufacturer in this field worldwide. Products supplied by A&D include standard products for the manufacturing and process industries and for the electrical installation industry as well as system solutions, for example for machine tools, and solutions for whole industries such as the automation of entire automobile factories or chemical plants. Supplementing this range of products and services, A&D also offers software for linking production and management (horizontal and vertical IT integration) and for optimizing production processes. A&D employs 70,600 people worldwide and in fiscal year 2006 (to September 30) earned a group profit of €1.572 billion on sales of €12.848 billion and orders of €14.108 billion.

Reference number: A&D CD 200702.1510 e

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Till Moor

Siemens AG

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