UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

October 1, 2008

Commission File Number: 1-15174

Siemens Aktiengesellschaft

(Translation of registrant’s name into English)

Wittelsbacherplatz 2
D-80333 Munich
Federal Republic of Germany
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F þ		Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes o		No þ

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes o		No þ

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o		No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-

 

 

		Press Presse Press Presse

Munich, September 30, 2008

Siemens makes faster progress than expected with the reorganization of the company

Siemens AG is making good progress with the reorganization and will be in a position to book most of the related expenditure in the fourth quarter of the current fiscal year. We are in the process of realigning Siemens to focus once again on its strengths and are making good progress. In our transition year 2008 ‘speed’ was one of our most important topics,” said Siemens CEO Peter Löscher on Tuesday. He does not expect any big surprises with respect to operations in the fourth quarter. “Business volume has again developed well in the fourth quarter, and we can confirm our outlook for 2009,” he said.

According to a company spokesman, Siemens is reckoning with costs of around three billion euros for transformation projects. Most of this will be booked in the fourth quarter. The program for reducing general and administrative costs is expected to involve from 800 million to 1.1 billion euros. The costs of restructuring the mobility section are quoted by the company as 160 to 200 million euros. Other ops will probably involve expenditure of 120 to 140 million euros. The reorganization of the Healthcare Sector is estimated at 80 to 100 million euros. The sale of 51 percent of SEN to the Gores Group entails costs of almost a billion euros. The creation of the Siemens Foundation will cost the company a further approximately 400 million euros, the company said on Tuesday.

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 400,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. In fiscal 2007, Siemens had revenue of €72.4 billion and income from continuing operations of €3.9 billion (IFRS). Further information is available on the Internet at: www.siemens.com.

This document contains forward-looking statements and information — that is, statements related to future, not past, events. These statements may be identified by words such as “expects,” “looks forward to,” “anticipates,” “intends,” “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

1 / 1

Siemens AG		Media Relations: Marc Langendorf
Corporate Communications and Government Affairs		Telephone: +49 89 636-37035
Wittelsbacherplatz 2, 80333 Munich		E-mail: marc.langendorf@siemens.com
Germany		Siemens AG
		Wittelsbacherplatz 2, 80333 Munich
		Germany

Reference number: AXX200809.83 e

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.