and Fanny Potkin
SINGAPORE/ZURICH (Reuters) – Siemens will spend two billion euros under a new global investment plan to make its business more resilient to supply chain disruptions and geopolitical tensions, it said on Thursday the German group.
Siemens intends to build new factories as well as R&D centers and training sites all over the world. In particular, it plans to invest 200 million euros in a new factory for its industrial automation division in Singapore.
R&D expenditure will also be increased by 500 million euros this year.
“Siemens is growing significantly faster than the market. Today, we are announcing an investment strategy aimed at driving future growth, fostering innovation and increasing resilience,” said CEO Roland Busch, at an event in Singapore.
“This wave of investment is supported by our record order book and reflects our confidence in the future,” he added.
(Report John Revill in Zurich and Fanny Potkin in Singapore; Blandine Hénault for the , edited by Nicolas Delame)
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