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| Lübeck, Germany, January 23, 2007 – Dräger acquires 10 percent of Siemens AG shares in its Joint Venture Dräger Medical AG & Co. KG for a sales price of approximately 110 million EUR and increases its stake to 75 percent. At the same time, Siemens AG waves the sales option of its shares originally agreed in the Joint Venture contract and retains its 25 percent holding in the Dräger Medical Group. In addition, Siemens AG plans to purchase 2.5 percent of the Drägerwerk AG, probably in the form of common stock to be issued in the future. |
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| “With an investment in Drägerwerk AG, we document that we want to intensify and continue our partnership," emphasizes Erich R. Reinhardt, member of the Executive Board of Siemens AG and CEO and President of Siemens Medical Solutions. “We have reached an excellent competitive position and are growing faster than the market,“ added Stefan Dräger, Chairman of Drägerwerk AG. Both companies have contributed to the development of Dräger Medical into one of the leading international manufacturers of medical therapy systems. |
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| In 2003, Drägerwerk AG and Siemens AG founded the Joint Venture Dräger Medical AG & Co. KG, Lübeck. For fiscal year 2006, the total number of employees was at approximately 6,000, and sales of approx. 1.2 billion EUR and an EBIT of approximately 110 million EUR is expected (Guidance). |
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This document contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning. Such statements are based on our current expectations and certain assumptions, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect its operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens worldwide to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For us, particular uncertainties arise, among others, from: changes in general economic and business conditions (including margin developments in major business areas); the challenges of integrating major acquisitions and implementing joint ventures and other significant portfolio measures; changes in currency exchange rates and interest rates; introduction of competing products or technologies by other companies; lack of acceptance of new products or services by customers targeted by Siemens worldwide; changes in business strategy; the outcome of investigations and legal proceedings as well as various other factors. More detailed information about certain of these factors is contained in Siemens’ filings with the SEC, which are available on the Siemens website, www.siemens.com and on the SEC’s website, www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the relevant forward-looking statement as expected, anticipated, intended, planned, believed sought, estimated or projected. Siemens does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated. |
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(c) Drägerwerk AG & Co. KGaA, 2007 |
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