Today, Siemens Power Generation (PG) and the owner of Bonus Energy A/S, Danregn Vindkraft A/S, entered into an agreement whereby Siemens will acquire Bonus Energy A/S. Siemens thereby expands its product portfolio and enters the growing international wind energy system business. Bonus Energy A/S is one of the five major suppliers of wind energy systems worldwide. With a workforce of 750 the company posts annual sales of approximately EUR 300 million. The acquisition is conditional upon the approval of the relevant competition authorities only. Closing is planned for early December 2004.



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Bonus Energy A/S has installed more than 5,000 turbines with an aggregate capacity above 3 gigawatts (GW) in more than twenty countries. The company has leading positions in various markets and within offshore wind farms, a market increasingly gaining in importance. In 1991, Bonus Energy A/S supplied the world's first offshore wind farm, and in 2003 Bonus supplied the world’s largest offshore wind farm to date with a capacity of 166 megawatts (MW), located at Nysted in Denmark. In addition to an assembly plant at the corporate headquarters in Brande, Denmark, Bonus Energy A/S has its own newly built rotor blade production facility in Aalborg, Denmark.

“In order to meet the world’s increasing power demand not only in a reliable and cost-effective, but also environmentally compatible manner, we have to utilize all sources of energy. Wind energy will become an important part of this energy mix,” stated Klaus Voges, President of Siemens Power Generation. Today, the world market volume for wind energy systems is around EUR 6 billion. Annual growth rates of 10 percent are anticipated over the coming years. Focal growth areas will be Europe, the U.S. and Asia.

“We are convinced that in Bonus Energy A/S we have found the optimal partner to participate in this growth. We can build on Bonus' advanced technology as well as on their highly skilled and motivated employees. Combined with the financial strength of Siemens and our global sales and marketing activities, this will open up totally new and promising prospects for our business and thus also for the employees of Bonus Energy A/S,” said Voges. Bonus with its facilities in Brande and AaIborg will constitute the core of Siemens PG`s wind activities worldwide, and the new PG Division “Wind Power” will be based in Brande, Denmark.

“The market is demanding ever more comprehensive and complex solutions. In the past, we have undertaken significant research and development activities for further advancement of this technology. I believe that becoming the wind power division of Siemens Power Generation, which is the leading power equipment manufacturer in the world, will ensure that we will grow into one of the leaders in the global wind energy industry. Consequently, I'm certain that, together with Siemens, our mutual future in this promising market looks bright,” said Palle Nørgaard, CEO of Bonus Energy A/S.

For further information, please contact:
• Dr. Stephan Feldhaus, Group Communications, Siemens Power Generation
Tel: +49 9131 18 7260
Mobile: + 49 170 9102602
• Mr. Palle Nørgaard, CEO, Bonus Energy A/S
Tel: +45 99 42 22 22

The Power Generation Group (PG) of Siemens AG is one of the premier companies in the international power generation sector. In fiscal 2003 (which ended September 30), Siemens PG posted sales amounting to approximately EUR7 billion and received new orders totaling EUR7.3 billion. Group profit amounted to EUR1,171 million. On September 30, 2003, PG had a work force of more than 30,000 worldwide. Further information at: http://www.siemens.com/powergeneration

Bonus Energy A/S is a leading wind turbine supplier with a cumulative market share of approx. 9% at year-end 2003. Bonus, headquartered in Brande, Denmark, was established in 1980 and is today the 5th largest wind turbine manufacturer in the world. The company enjoys a market leading position in the rapidly growing offshore market, having supplied almost half of the capacity installed globally. The company is privately owned. Further information at www.bonus.dk

Reference number / Informationsnummer: PG 200410.002 d

Alfons Benzinger
Freyeslebenstr. 1
91058 Erlangen
Tel.: +49 (9131) 18-7034
Fax: +49 (9131) 18-7039
alfons.benzinger@siemens.com  



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