ERLANGEN/MUNICH (dpa-AFX) – Unlike many other international corporations, Siemens is focusing its current investments on its own country. About half of the current investment initiative goes to Germany, as CEO Roland Busch announced on Friday in Erlangen. There he also announced the latest investment: 500 million for the expansion of the research and manufacturing capacities of the local Digital Industries site with around 3500 employees. New jobs are also to be created – how many, Busch has not yet said.
Most of the investments will go into expanding production capacity. Chancellor Olaf Scholz (SPD), who came to Erlangen for the announcement, was also pleased: he said the investment was a strong signal for Germany as a location for innovation and production. “In this way, Siemens is strengthening the innovative power of our entire country.”
There is currently a lot of discussion about the challenges facing the German economy, said Busch. “Energy prices are high. So are taxes and wages. Far too much bureaucracy, the infrastructure is crumbling. And there is a lack of skilled workers.” Many companies currently prefer to invest abroad, he said. The fact that Siemens invests in Germany and thus “does not feel like a wrong-way driver” is partly due to the fact that there are established, successful economic ecosystems in this country. In addition, talent, skilled workers and infrastructure are more important for the group than energy prices, because Siemens is not an energy-intensive company.
Not all parts of the global investments totaling two billion euros, which also include the majority stake in Siemens Healthineers, are known. In addition to the half a billion in Erlangen announced on Friday, the billion in Germany is divided among others in Frankfurt, Forchheim and other investments in other locations in Erlangen. With 20,000 employees, the Franconian city is the world’s largest Siemens location, as a spokesman said.
Outside of Germany, projects in China, Singapore, Spain and the USA are known as part of the investment initiative./ruc/DP/jha
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