Member access

4-Traders Homepage  >  Shares  >  Xetra  >  Siemens AG    SIE   DE0007236101

SIEMENS AG (SIE)

316
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

Siemens AG : Siemens and the Hellenic Republic reach a settlement agreement and mark a new beginning

04/05/2012 | 10:40am US/Eastern
Recommend:
0

Munich, Germany, 2012-Apr-05

Today, the Hellenic Parliament ratified the settlement agreement between Siemens and the Greek State. This marks the beginning of a new chapter in Siemens' long history in Greece. The Greek Government's commitment to foster growth was one of the pillars on which this agreement was based. This agreement will allow Siemens to continue to be a real supporter. To this end, Siemens will explore actual and substantial areas of investment in Greece, with special emphasis to sectors which increase employment and support the economy.

In total, this settlement will reach approximately 270 million Euro. In this context, Siemens waives claims of €80 million that concern implemented projects and the delivery of equipment to the Greek State. Siemens will dispense up to the amount of 90 million Euro for transparency initiatives and anti-corruption programs, as well as for academic and research programs that aim at enhancing Greece's competitiveness. Finally, Siemens will spend over €100 million, in order to enhance its activities in Greece and preserve a significant number of jobs in the local market.

The company is committed to ensure going forward, full and overall compliance to sound corporate principles.

distributed by
Recommend :
0
React to this article
Latest news on SIEMENS AG
3m ago SIEMENS : agrees to $7.6 billion deal to buy Dresser-Rand
1h ago SIEMENS : Bosch to acquire Siemens' stake in BSH Bosch und Siemens Hausgerate Gm..
1h ago SIEMENS : to Buy Oil Equipment Company for $7.6 Billion
1h agoDJSiemens to Sell Stake in Appliance Joint Venture to Bosch
1h ago DRESSER RAND : Signs Agreement to Sell to Siemens
2h ago Bosch mulls more deals following BSH acquisition
2h ago SIEMENS : to sell stake in household appliances JV for 3 billion euro
3h ago Sulzer ends talks with Dresser-Rand after Siemens bid
4h ago SIEMENS : nearing deal to buy US equipment maker Dresser-Rand
1d ago Siemens in agreed $7.6 billion deal to buy Dresser-Rand
Advertisement
Chart
Duration : Period :
Siemens AG Technical Analysis Chart | SIE | DE0007236101 | 4-Traders
Income Statement Evolution
Siemens AG : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF