Siemens to appeal verdict in Darmstadt case

Siemens to appeal verdict in Darmstadt case

Siemens will appeal the decision of the Darmstadt regional court requiring it to pay €38 million. The company maintains that the court’s order to forfeit the profits from two orders placed by Enel with Siemens’ Power Generation Group for the supply of power plant equipment in 2000 and 2001 is illegal. The court’s decision has no basis in law or in fact.

Siemens AG (Berlin and Munich) is a global powerhouse in electrical engineering and electronics. The company has around 475,000 employees (incl. discontinued operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of services for individual requirements. Siemens provides innovative technologies and comprehensive know-how to benefit customers in over 190 countries.

Founded more than 155 years ago, the company focuses on the areas of Information and Communications, Automation and Control, Power, Transportation, Medical, and Lighting. In fiscal 2006 (ended September 30), Siemens had sales of €87.3 billion and net income of €3.033 billion, according to U.S. GAAP. Further information is available on the Internet at: www.siemens.com.

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