Siemens to invest in new factories around the world
Company also stepping up RD spending
CEO says investment reflects strong order book
Siemens wants to increase resilience of business

SINGAPOREZURICH, June 15 Reuters Siemens will spend 2 billion euros 2.2 billion on a new global investment plan, the German engineering group said on Thursday, to make its operations more resilient against supply chain disruptions and geopolitical tensions.

Siemens will build new factories, research and development centres and training sites around the world, the company said, as it also aims to take maximum benefit of stimulus packages in the United States and Europe.

Under the investment programme, which will cover announcements made during 2023, Siemens announced a new 200 million euros plant for its industrial automation division in Singapore.

Siemens is experiencing significantly abovemarket growth. Today we announce an investment strategy to boost future growth, drive innovation and increase resilience, said Siemens Chief Executive Roland Busch.

Siemens will also increase its research and development spending by 500 million euros this year, the company said.

The company, seen as a bellwether for industrial demand, has seen rapid growth since the postCOVID restart, increasing its sales to 72 billion euros last year from 62 billion euros in 2021.

This wave of investments is supported by our record order backlog and reflects our confidence in the future, Busch later told an…