Based in Incheon-Seoul (KR), Shinwha Electronics is a key player in fire safety systems and the leader in fire safety project business in Korea. Since 1990 Shinwha Electronics and Siemens Building Technologies have been working together as partners. With around 250 employees, Shinwha Electronics provides fire alarm systems, gaseous fire suppression systems and fire safety services. The company is well connected to the local and cross-national construction business. A majority of landmark buildings in Korea have Shinwha Electronics fire safety systems installed. References include large projects in top hotels, commercial buildings, hospitals, laboratories, industrial and power plants. The company generated sales of around 40 million euros (52 million US dollar) in 2007.

Shinwha Electronics is a privately owned family business and consists of two legal entities: Shinwha Electronics Ltd. and SH Electronics Engineering Ltd. Siemens will acquire 100% of the share capital of both companies.

The transaction, which is expected to close beginning of May 2008, is subject to anti-trust approval in Korea.

Shinwha Electronics will be integrated within the Building Technologies Fire Safety and Security Products Business Unit. This Business Unit offers products, systems, solutions and services for fire detection, automatic extinguishing, voice evacuation, emergency controls and danger management and is market leader in the global fire detection and control market.

"With Siemens, Shinwha Electronics' potential to grow will increase significantly," says Mr. YK Kim, CEO of Shinwha Electronics. "At all levels it is a strategic and technological win-win for both companies. It's a perfect match. Siemens gains access to Shinwha Electronics technological experience, competence and market access and we secure access to experience in global electronic security, safety and building automation systems integration that few companies in the world can match".

"Shinwha Electronics will enhance our platform to enter the rapidly growing fire safety market in Korea and the Asia/Pacific Region" says Francois-Xavier Hedon, CEO of the Fire Safety and Security Products Business Unit within Building Technologies. "We are looking forward to offering Shinwha Electronics` customers an even better Product- and Service proposition in the future. Furthermore, we will also leverage Shinwha Electronics` competent R&D resources to jointly build a leading technology group for platforms, products and applications.