Siemens (SIEGn.DE) announced it would develop a new industrial automation unit in Singapore to meet rising automation technology demand in Asia.
“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 told Reuters.
The representative said the corporation will reveal more ideas on Thursday.
Wirtschaftswoche magazine said that company sources placed the project’s cost at a low three-digit million euros.
Wirtschaftswoche reported that CEO Roland Busch wanted to build a “twin” of the company’s Amberg factory in China, but the supervisory board was concerned about geopolitical tensions there.
