08-07-2002

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			Press 2002

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	For the trade press

	Siemens and Renfe form joint venture "NERTUS"

	Erlangen, Jul 08, 2002

	Siemens and the Spanish national railway company Renfe have established a joint subsidiary for the maintenance and repair of regional trains. Siemens holds a 51 percent share in NERTUS Mantenimiento Feroviario, S.A. The new company is responsible for ensuring the operational readiness of a total of 50 trains deployed in regional rail service in the Greater Barcelona area. The subsidiary is to take care of 30 class S 440 and 20 class S 447 multiple unit trains, which had been supplied by a consortium consisting of Siemens and other companies. The maintenance and repair work will be performed in a workshop in Barcelona belonging to Renfe's mass transit segment. The NERTUS workforce currently numbers around 60 people recruited from the two parent companies. Siemens is in charge of managing the new subsidiary. Two representatives each from Siemens and Renfe sit on the supervisory board. By including the rolling stock manufacturer in its maintenance and repair activities, Renfe hopes to increase the utilization of the vehicles. The idea behind this concept is to combine the expertise of the rolling stock supplier with the operating experience of the Renfe employees. In addition to the higher utilization factor, Renfe will also gain from improved economy and therefore acquire a stronger competitive edge over other modes of transportation. Siemens TS was prepared for such market developments, having already formed its own Integrated Services division to maintain and repair rolling stock and infrastructure both for mass transit and for mainline operators worldwide. Well-known examples of these are the Heathrow Express in London and the light rail maintainers Leipziger Fahrzeugservice Betriebe in Leipzig, Germany. The name NERTUS derives from the Spanish "Su Tren" - "Your Train" in English - only it is written backwards. Picture reference: You will find the photos on the Internet at: http://www.siemens.com/ts-picture/028 Pictures of the contract signing ceremony, the trains to be maintained, and the repair and maintenance facility in Barcelona, Spain. Siemens AG Corporate Communications Press Office D-80312 Munich Germany Information number: TS IS 200206.028 e Press Office Transportation Systems Bernd Edelmann P.O. Box 3240, D-91050 Erlangen, Germany Tel.: +49-9131-7 27338; Fax: -7 24598 E-mail: bernd.edelmann@ts.siemens.de

The Transportation Systems Group (TS) of Siemens AG is one of the leading international suppliers to the railways industry. As single source supplier and system integrator, the Group combines in its business segments Automation & Power, Rolling Stock, Turnkey Systems and Integrated Services all the expertise necessary to cover the spectrum from signaling and control systems to traction power supplies, as well as rolling stock for mass transit, regional and main line services. Extensive experience in project management and forward-looking service concepts complement our portfolio. In fiscal 2001 (ended September 30) TS generated sales of €4.0 billion with a staff of around 14,800 the world over. Earnings before interest, tax and goodwill amortization (EBITA) amounted to €186 million. Further information on TS can be found at www.siemens.com/ts.

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