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Siemens strengthens energy business in Russia with new partnerships

Siemens intends to expand its presence in Russia’s energy market. To achieve this goal, the company is also building additional production facilities in the country. For example, Siemens is building a new transformer production plant in Russia’s Voronezh region. Plans also call for launching the production of components for high-voltage switchgear by Siemens High Voltage Products at the same location. In March, Siemens fully acquired this former joint venture in order to substantially expand its high-voltage switchgear business in the Russian market. 
The products from these Siemens production facilities in Russia can be used to upgrade Russia’s high-voltage grid. FGC, which owns the roughly 118,000-kilometer-long Russian power grid, has announced that it intends to invest some €12 billion by 2012 in order to upgrade the Russian grid.
Russia is not only the world’s fourth-largest power market; it is also the country with the world’s largest reserves of natural gas. Nearly a third of the world’s natural gas deposits are in Russia. With the new joint venture, Russian Turbo Machinery, Siemens is investing in a local production facility for gas pipeline compressors. These devices, also called turbo compressors, increase the density of natural gas so that it can be efficiently transported via long-distance pipelines.  
Since the agreement between Russian President Medvedev and German Chancellor Angela Merkel in October 2008 to establish a technology partnership in the area of energy efficiency, attention has increasingly focused on this topic. Against this backdrop, Siemens produced, among other things, in cooperation with the Russian Ministry of Energy, an energy efficiency study for Yekaterinburg, Russia’s fourth-largest city. Numerous ways in which cutting-edge technologies could be used to substantially reduce energy consumption in this pilot city were identified in the first project phase. 
Siemens has been active in Russia for more than 155 years. As a provider of complete solutions for upgrading the key sectors of the Russian economy, Siemens supplies the entire country with products and services from its portfolio. In fiscal 2009 (ended September 30), revenue from customers in Russia came to nearly €1.3 billion. New orders totaled more than €1 billion. Siemens currently has over 3,100 employees in the country.

For this press release

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world’s largest provider of environmental technologies, generating €23 billion – nearly one-third of its total revenue – from green products and solutions. In fiscal 2009, which ended on September 30, 2009, revenue totaled €76.7 billion and net income €2.5 billion. At the end of September 2009, Siemens had around 405,000 employees worldwide. Further information is available on the Internet at:
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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 such as “expects,” “looks forward to,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” “project” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of Siemens’ management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect Siemens’ operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For Siemens, particular uncertainties arise, among others, from changes in general economic and business conditions (including margin developments in major business areas and recessionary trends); the possibility that customers may delay the conversion of booked orders into revenue or that prices will decline as a result of continued adverse market conditions to a greater extent than currently anticipated by Siemens’ management; developments in the financial markets, including fluctuations in interest and exchange rates, commodity and equity prices, debt prices (credit spreads) and financial assets generally; continued volatility and a further deterioration of the capital markets; a worsening in the conditions of the credit business and, in particular, additional uncertainties arising out of the subprime, financial market and liquidity crises; future financial performance of major industries that Siemens serves, including, without limitation, the Sectors Industry, Energy and Healthcare; the challenges of integrating major acquisitions and implementing joint ventures and other significant portfolio measures; the introduction of competing products or technologies by other companies; a lack of acceptance of new products or services by customers targeted by Siemens; changes in business strategy; the outcome of pending investigations and legal proceedings and actions resulting from the findings of these investigations; the potential impact of such investigations and proceedings on Siemens’ ongoing business including its relationships with governments and other customers; the potential impact of such matters on Siemens’ financial statements; as well as various other factors. More detailed information about certain of the risk factors affecting Siemens is contained throughout this report and in Siemens’ other filings with the SEC, which are available on the Siemens website,, and on the SEC’s website, 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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Alexander Becker

Siemens AG

Wittelsbacherplatz 2
80333 Munich

+49 (89) 636-36558