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ARQUES to acquire 80.2% of Siemens Home and Office Communication Devices
Joint press release of Siemens and ARQUES
Regulatory approval is pending.
As part of the employment guarantee, ARQUES has contractually agreed to maintain SHC's locations in Germany - Bocholt and Munich - for the next three years. The company will continue to be headquartered in Munich, Germany. "During the negotiations, Siemens placed particular emphasis on our offering the employees a positive perspective in a strong company with a promising future," said Schumann.
Under ARQUES management, SHC is expected to expand its position as best in class and market leader in the premium price segment. In this connection, the company's product portfolio will be focused on high-margin business. A large number of product innovations - in the area of Voice over IP, for example - and an expansion of the company's international business are expected to generate targeted growth. ARQUES also intends to intensify R&D investment at research locations in Germany and Poland. To continue placing innovative SHC products successfully on the market, ARQUES can continue to use the Siemens brand name for the next two years.
SHC Gigaset No. 1 in Europe's cordless phone market
Siemens carved out SHC as a stand-alone company in October 2005. The company's business focuses on cordless phones as well as broadband and home entertainment devices. Revenue in fiscal 2007 totaled €792 million. Two-thirds of SHC sales are generated by Gigaset cordless phones. In the cordless market, SHC is No. 1 in Europe and a leading supplier worldwide. In Germany alone, every second household boasts a Gigaset phone. In Europe, the figure is one in five. SHC products are manufactured primarily in Germany and meet the highest quality and environmental standards. With 2,100 employees, the company has locations in 17 countries and sells its products in around 70 countries. With 1,400 employees, SHC's ultra-modern production facility in Bocholt, Germany is its largest location.
ARQUES, headquartered in Starnberg near Munich, Germany, specializes in acquiring non-core activities from companies in order to develop them into businesses with sustainable profitability.
ARQUES Industries AG, Starnberg, Germany, (www.ARQUES.de) is a business partner of conglomerates regarding company spin-offs and a turnaround specialist who focuses on the acquisition and the active restructuring of companies in transitional situations, in order to develop these, with its own team and own resources, to competitive enterprises with a positive yield. ARQUES revitalizes its subsidiaries' potential for creating value for the benefit of all its stakeholders, taking on the relevant social responsibility. The shares of ARQUES Industries AG are traded in the regulated market(Prime Standard) of the Frankfurt Stock Exchange under the symbol "AQU" (ISIN: DE0005156004) and are listed in the SDAX.
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"plans," "believes," "seeks," "estimates," "will," "project" 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 our 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 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; changes in business strategy; the outcome of pending investigations and legal proceedings, especially the corruption investigation we are currently subject to in Germany, the United States and elsewhere; the potential impact of such investigations and proceedings on our ongoing business including our relationships with governments and other customers; the potential impact of such matters on our financial statements; as well as various other factors. More detailed information about certain of these factors is contained throughout this report and in our other 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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