Siemens: strengthens presence in East Germany

(CercleFinance.com) - German diversified group Siemens said on Monday it had agreed to strengthen the presence of its industrial steam turbine plant in Gorlitz, in the eastern state of Saxony.


Plans call for establishing an innovation campus and a start-up accelerator on the site, aiming to encourage other technology and industrial companies, as well as research institutes, the conglomerate said.

On the campus, Siemens also plans to build a hydrogen research laboratory with research organisation Fraunhofer to study the production, storage and use of hydrogen.

In a first step, the partners intend to invest around 30 million euros to expand the facility. About new 100 jobs are expected to be created.

Siemens currently has about 800 employees at the turbine plant, making the company one of the region's largest industrial employers.

Copyright (c) 2019 CercleFinance.com. All rights reserved.