SIAG Schaaf Industrie AG takes over Thyssen in

Construction of Europe’s largest offshore plant

Dernbach, 9 September 2009 - SIAG Schaaf Industrie Aktiengesellschaft, headquartered in Dernbach/, is, together with Thyssen , initiating a structural change in the German shipyard industry at the Emden location.

After structural adjustments, around 1200 people will be employed at Emden, of whom SIAG will take over 721. Another 300 TKMS employees will continue their work at Emden in the areas of surface constructions and submarine engineering, repairing and services.

For the first time capacity is being taken from the market without affecting jobs in the region. What makes this project unique is the global reorganization to build an offshore production site for wind energy technology. Besides towers and main frames for offshore wind energy plants, foundation structures including monopiles, transition pieces and jackets will be manufactured and supplied. While towers and main frames are surface constructions, monopiles, transition pieces and jackets are for underwater installation. What is unusual about this project from a logistics perspective is that not only can all products be manufactured at one single site, but that a holistic approach is being taken, including the company’s own lading port, to help save on costs. This move saves the business location of Emden from running dry, as the future-oriented offshore technology has converted it into Europe’s largest future-proof industry location. What is more, greater use will be made of Thyssen Krupp Marine Systems’ facilities at Hamburg and Kiel. On Friday 4 September, the two CEOs, Dr. Hans Christoph Atzpodien of TKMS and Dipl.- Ing. Rüdiger Schaaf of SIAG, agreed on the basic elements which will pave the way for the takeover of the Emden facility as of 1 October 2009. By mid-2011, submarine production will be phased out and a smooth transition will be made, ramping up offshore production. For the ramp-up phase, an annual capacity of 100 offshore towers, 60 main frames, 25 monopiles, 25 transition pieces and 25 jackets is being scheduled.

Politicians actively support Thyssen Krupp’s and SIAG’s decision, which will help secure jobs. Likewise, trade union IG-Metall and shop chairman Fritz Niemeier see this approach as positive, whilst admitting to some sadness as they watch traditional ship building activities decline. Building on this initial agreement, further talks will now be held involving all stakeholders. The final agreement will be subject to the approval of all supervisory committees.

General information

Thyssen Krupp Nordseewerke GmbH The company was established in 1903 and is one of Germany’s longest-standing shipyards still in existence. The facility is based on an area of land measuring 550,000 m², with usable

covered floor space of 75,000 m². The shipyard was taken over by Thyssen AG in 1974 and named Thyssen Nordseewerke GmbH in 1976. The company’s core business is the production of submarines, surface marine ships, cargo vessels and speciality .

SIAG Schaaf Industrie AG SIAG Schaaf Industrie AG has developed from a classic construction company to become a leading supplier to the energy industry, running production facilities in Germany, the Czech Republic, France, Egypt, and the USA. With a staff of over 1,200, SIAG is committed to helping customers expand into growth markets and offers top quality and delivery reliability around the globe.

Press contact: Christian Adamczyk SIAG Schaaf Industrie AG Phone: ++49 (0)2602/9340-220 Fax: ++49 (0)2602/9340-830 [email protected] www.siag-group.com

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