Siemens plans new plant in Singapore in Asia expansion
Visitors walk under a Siemens sign at the international consumer technology fair IFA in Berlin, Germany, on Sept 2, 2022.
PHOTO: Reuters
PUBLISHED ONJune 14, 2023 12:16 AM
BERLIN - Siemens plans to build a new plant for its industrial automation division in Singapore, the company said on Tuesday (June 13), as it expands its business in Asia to serve booming orders for automation technology.
"Siemens intends to build a new, state-of-the-art Digital Industries (DI) factory in Singapore — as part of its strategy to strengthen global diversification and resilience," a spokesperson for the company told Reuters.
The company will announce further details of its plans on Thursday, the spokesperson said.
The project's price tag is estimated to be at a low three-digit million-euro sum, Wirtschaftswoche magazine, which first reported the news, said, citing company sources.
Chief Executive Roland Busch had originally favoured China as a location for the new factory but he faced resistance from the supervisory board which had concerns over the growing geopolitical tensions there, Wirtschaftswoche said, adding that the plant would be a "twin" of the company's factory in Amberg, south of Germany.
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