Siemens to build gas turbine plant
In line with its ongoing U.S. investment efforts, Siemens (NYSE: SI) announced today that it will build a new 60-Hz gas turbine production plant at its existing facility in Charlotte, North Carolina. As part of its expanded U.S. presence, Siemens will create a global production hub for manufacturing, servicing and other support functions related to the supply of its gas and steam turbines and generators to 60-Hz markets around the world. The initial investment will be approximately $135 million. Production is slated to start in the fall of 2011. This is the latest in a series of moves designed to support Siemens' clearly defined growth strategy in the U.S. With revenues totaling $21.3 billion in fiscal 2009 (ended September 30), the U.S. continues to be the most important single-country market for Siemens.
“This decision underscores our commitment to the U.S. Over the next five years, we expect employment at the Charlotte site to grow to nearly 1,800 people, with more than 1,000 of those positions new to Charlotte,” said Peter Loscher, President and CEO of Siemens AG. Some 825 new positions will be for the planned gas turbine production, while 226 new jobs were already announced last October. “Furthermore, just in the past three years, Siemens has opened -- and subsequently expanded -- a wind turbine blade manufacturing plant in Fort Madison, Iowa, now with over 400 employees, and a second production plant for wind turbine gearboxes in Elgin, Illinois, with up to 350 new jobs. The company also is in the process of building a plant in Hutchinson, Kansas, which will employ another 400 people who will make nacelles for our wind turbines. Just within the wind business we are adding more than 1,000 green jobs to our U.S. workforce,” said Loscher.
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