Siemens Acquired Robicon Perfect Harmony MV Drives Company

Atlanta, Georgia – July 18, 2005 – Siemens Energy & Automation, Inc. announced today that it has completed the acquisition of Robicon, a company headquartered in New Kensington, Pennsylvania, a suburb of Pittsburgh. The acquisition includes shares of Robicon's foreign subsidiary in Shanghai, China; High Wycombe, UK; Sao Paulo, Brazil; and Edmonton, Alberta, Canada. Robicon employs approximately 340 employees in its US operations. Robicon has 470 employees worldwide. The purchase of Robicon assets will enhance Siemens' product portfolio in the field of AC drives and industrial power control, and provide Robicon product lines with greater opportunities to enter the global market. Robicon is widely recognized for its advanced technology in medium voltage drives and power supplies and its strong market position in oil and gas, water and wastewater, energy and pipeline applications. Aubert said that the global drive market is about 33 billion U.S. dollars, with an annual growth rate of about 2.5%. "The purchase of Robicon's assets will enable Siemens to expand its product portfolio and expand its business scope in the field of industrial drives." Martin, President and CEO of Siemens Energy and Automation Co., Ltd. Robicon provides a very complementary product line for the Siemens product portfolio, providing important long-term growth opportunities for the two companies. The combination of Siemens and Robicon's products, services and solutions provides customers of both companies with unique and comprehensive products. "The Siemens acquisition provides a good and sustainable prospect for our employees, customers, suppliers and channel partners. Gary Rauscher, President of Robicon. "Siemens will provide Robicon with the capital investment required for its operations, employees, research and development. The Siemens acquisition also provides the global expertise necessary for continued growth. "In the United States, Robicon business will be integrated as a business unit of Siemens Energy and Automation Co., Ltd. Robicon International Subsidiary will become part of Siemens' regional companies. Under the leadership of Siemens Automation and Drives Group, Robicon will continue to establish its position in the local market. , And expand business with the support of Siemens International Network. Robicon product brand has a strong market reputation, Siemens will continue to use "Robicon" as existing products. On February 8, 2005, Robicon and its parent company High Voltage Engineering Corporation Chapter 11 of the Bankruptcy Act filed a voluntary petition for reorganization, and the sale to Siemens was completed after obtaining the approval of the U.S. Bankruptcy Court. It was in the Massachusetts State Court on June 30, 2005. In an earlier decision In China, the U.S. Department of Justice conducted an antitrust review and approved the transaction under the Hart-Scott-Rodino Antitrust Improvement Act. For more information, please contact Siemens or visit its website www.sea. siemens.com. About Robicon Robicon’s main business focuses on industrial power conversion and control. It focuses on the commercialization of new technologies and develops market-leading power electronic equipment and power control solutions. Robicon design, manufacturer, market and service For industrial low- and medium-voltage variable frequency drives and power supplies. About Siemens Energy and Automation Co., Ltd. Siemens Energy and Automation Co., Ltd. is one of Siemens' operating companies in the United States, headquartered in Alpharetta, a suburb of Atlanta, Georgia. Siemens Energy and Automation Co., Ltd. The company manufactures and sells one of the most extensive electrical products in the world, as well as electronic products, systems and services for customers in the industrial and construction markets. Its technologies range from circuit protection and energy management systems to process control, industrial software and fully integrated automation Solutions. The company also has expertise in system integration, technical services and turnkey industrial systems. About Siemens A&D Siemens Automation and Drives (A&D) Group is located in Nuremberg, Germany, and is the world’s leading manufacturer of automation and drives. Provided by A&D The products include standard products used in the manufacturing and processing industries and electrical installation industries, as well as system solutions for machine tools, and solutions for the entire industry (such as the automation of entire automobile factories or chemical plants). As products and services In addition to the scope, A&D also provides software for linking production and management (horizontal and vertical IT integration) and optimizing the production process. A&D has 51,800 employees worldwide and temporary pre-tax profit for the 2004 fiscal year (until September 30) It is 1.077 billion euros, with sales of 8.829 billion euros and orders of 8.98 billion euros. One of the world’s largest electronic products engineering companies, with global sales of 91.3 billion U.S. dollars in fiscal year 2004. The company was founded more than 150 years ago , In the field of automation and control, information and communication, lighting, medical, power and transportation. Siemens is headquartered in New York City, with sales in the US of $16.6 billion and 70,000 employees in 50 states and Puerto Rico. All of Siemens' 11 global operations are located in the United States. The global headquarters of Siemens AG and its subsidiaries is located in Munich, with 430,000 employees in 192 countries. For more information about Siemens in the United States, please visit: www.usa.siemens.com