BERLIN (Reuters) – Siemens plans to build a new plant for its industrial automation division in Singapore, the company said on Tuesday, 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.
(Reporting by Alexander Huebner and Riham Alkousaa; Editing by Sharon Singleton)
