Siemens to invest $2.2 billion to ramp up global production

ZURICH : Siemens will spend 2 billion euros on a new global investment plan, the German engineering and technology group said on Thursday, as it gears up to meet increased demand triggered by global stimulus packages.

As part of the investment programme, which will cover announcements made during 2023, Siemens will spend 200 million euros on a new plant for its industrial automation division in Singapore."Siemens is experiencing significantly above-market growth. Today we announce an investment strategy to boost future growth, drive innovation and increase resilience," said Siemens Chief Executive Roland Busch in a statement.

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