together in the Middle East. They are the Gold
and Silver sponsers of the 1st Middle East Conference & Exhibition on Intelligent Transport Systems.

If they are competitors why do they seem like they work together? Well a little history on Siemens shows they are corrupt. They pay out billons in
fines for price fixing and bribery every few years it seems.

Controversies
2007 Price fixing fine
In January 2007 Siemens was fined €396 million by the European Commission for price fixing in EU electricity markets through a cartel involving 11
companies, among which ABB, Alstom, Fuji, Hitachi Japan, AE Power Systems, Mitsubishi Electric Corp, Schneider, Areva, Toshiba and VA Tech According
to the Commission, "between 1988 and 2004, the companies rigged bids for procurement contracts, fixed prices, allocated projects to each other,
shared markets and exchangedcommercially important and confidential information." Siemens was given the highest fine of €396 million, more than
half of the total, for its alleged leadership role in the incident.

Bribery case
Siemens agreed to pay a record $1.34 billion in fines in December 2008[61] after being investigated for serious bribery, involving Heinz-Joachim
Neubürger, former chief financial officer, Karl-Hermann Baumann, another former CFO and exchairman, and Johannes Feldmayer, a former management board
member. The investigation found questionable payments of roughly €1.3 billion, from 2002 to 2006 that triggered a broad range of inquiries in
Germany, the United States and many other countries.

In May 2007 a German court convicted two former executives of paying about €6 million in bribes from 1999 to 2002 to help Siemens win natural gas
turbine supply contracts with Enel, an Italian energy company.