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Siemens announces acquisition of Morgan Construction

Telecomworldwire, April 7, 2008

TELECOMWORLDWIRE-7 April 2008-Siemens announces acquisition of Morgan Construction(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Siemens AG (NYSE:SI) announced on Friday (4 April) that the company has acquired Morgan Construction Co, a supplier of wire mill equipment.

Morgan Construction had sales of USD230m in 2007 and employs over 1,100 people in the US, China, India, the UK and Brazil.

With the completion of acquisition, Morgan Construction will be managed as a Siemens Group company by Siemens VAI Metals Technologies, Linz/Austria, a business unit in the Industry Solutions Division, a supplier of solutions and services for installations in the fields of industry and infrastructure.

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The acquisition is expected to help Siemens offer complete solutions for equipping wire mills and for manufacturing long products.

Financial details of the acquisition were not available.

((Comments on this story may be sent to tww.feedback@m2.com))

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