Siemens VDO Automotive Completes Acquisition of Huntsville Electronics

Leading Automotive Electronics Supplier Today Takes Possession of Former Chrysler Group Operations

HUNTSVILLE, Ala., April 2 -- Siemens VDO Automotive today officially completed the acquisition of Chrysler Group's Huntsville Electronics operations, advancing Siemens VDO Automotive to a top-three spot in the global automotive electronics supplier industry.

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"Today is a great day for the future of Siemens VDO Automotive and the community of Huntsville," said Siemens VDO Automotive AG Group President and CEO Wolfgang Dehen during a company event unveiling the new monument sign. "Huntsville Electronics brings us additional capacity, capability and expertise to grow our core competencies in areas such as powertrain electronics, vehicle instrumentation and driver information."

This transition of ownership enables the manufacture of innovative electronics to remain in the Huntsville, Ala. community. The company plans to make the Huntsville location one of its global electronics manufacturing and engineering centers of expertise. In addition, Siemens VDO Automotive has worked closely with the local UAW to plan a careful transition of ownership.

"We are very excited to welcome the Huntsville team of employees to the Siemens VDO Automotive family," said Siemens VDO Automotive President and CEO John Sanderson during his first official tour of Huntsville's Plant I complex. "We look forward to merging their skills and expertise into a stronger operation for the future."

As a subsidiary of Siemens VDO Automotive, the Huntsville plants will have access to a broader range of business opportunities within the rapidly growing global $125-billion automotive electronics market.

With the completion of the acquisition, Siemens VDO Automotive has complete access to Huntsville Electronics, including two facilities comprising 1.1 million sq. ft. of space and approximately 2,000 employees. Huntsville Electronics generated approximately $1 billion in annual sales last year. The manufacturing capabilities, product portfolio, technical expertise and highly skilled workforce at Huntsville Electronics complement Siemens VDO Automotive's core competencies of innovative electronics and electrical systems.

Siemens VDO Automotive is a tier-one supplier of automotive electronic/electrical systems and components with applications covering gasoline and diesel powertrain technologies, safety and chassis systems, body electronics, plus interior products including infotainment systems. Worldwide sales reflecting fiscal year 2002/2003 totaled $9.589 billion (euro 8.375 billion). For more information: www.usa.siemensvdo.com .

Siemens AG is a leading global electronics and engineering company with reported worldwide sales of $80.5 billion in fiscal year 2003. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $16.6 billion and employs 65,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens' worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 417,000 people in 192 countries. For more information on Siemens in the U.S.: www.usa.siemens.com .

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