SIEMENS LTD. - Outcome of Board Meeting

Siemens Ltd has informed BSE that Siemens AG, Germany has entered into an agreement with Mitsubishi-Hitachi Metals Machinery, Inc., and Mitsubishi Heavy Industries for setting up a joint venture to operate in the business of metallurgical industry as a complete provider of plant, products and services for the iron, steel and aluminium industry.<br/><br/>Pursuant to this, the Board of Directors at its meeting held on June 03, 2014, has agreed in principle to transfer the Metals Technologies business of the Company to a designated entity subject to such terms and conditions as may be decided later on.