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Feb. 15, 2006 — SMS GmbH has taken over the 28% share in SMS Demag AG previously held by Mannesmann Demag Kraus Maffei GmbH, a subsidiary of Siemens AG. As a result of this transaction, SMS GmbH now owns 100% of SMS Demag AG.

Siemens originally acquired the shares in SMS Demag AG in 2001 as part of its Atecs-Mannesmann purchase.

The parties agreed not to disclose the purchase price.

SMS GmbH is the holding of a group of companies internationally active in plant construction and mechanical engineering relating to the processing of steel, non-ferrous metals and plastics. The group is divided into the Business Areas of Metallurgical Plant and Rolling Mill Technology, Tube, Long Product and Forging Technology and Plastics Technology. In the year 2004 around 9,500 employees worldwide generated a turnover of about EUR 2.20 billion.

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