Siemens Welcomes New CEO of Compression and Solutions

Terrance N. Ivers, 53, new CEO of the Compression and Solutions Business Unit of the Oil & Gas Division effective August 1, 2011, has succeeded Donald Weir, who has decided to leave Siemens. Since 2007 Ivers was the president of Amec Paragon, an international project management company and service provider to the upstream and midstream (especially pipeline) industries.

Ivers is a mechanical engineer and began his career at KBR, a leading international supplier for the oil and gas industry. At KBR he held a number of managerial positions in the fields of pipelines and offshore engineering where he gained outstanding experience in the oil and gas business. From 2004 to 2007, Ivers served as Chief Operating Officer for Alliance Wood Group Engineering.

"We would like to thank Donald Weir for his achievements for our company," said Tom Blades, CEO of the Oil & Gas Division. The Compression and Solutions Business Unit offers products and solutions for the oil and gas market. "With his extensive experience, deep understanding and broad network in the oil and gas industry, Terrance Ivers is the right person to further advance and develop our business," added Blades. Ivers will be based in Houston, Texas, one of the most important centers for the oil and gas sector. Activities in Houston significantly influence both the local U.S. market as well as international business.?

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The Trust also announced that it intends to issue its next operations update on or about September 30, 2011.

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