Siemens to Open Technology Hub in Goerlitz, Germany
July 15 2019 - 10:29AM
Dow Jones News
By Kim Richters
Germany's Siemens AG (SIE.XE) said Monday that it will open an
"innovation campus" and a startup accelerator at its industrial
steam-turbine plant in Goerlitz, Germany.
The industrial group will also team up with the research
institute Fraunhofer-Gesellschaft to create a hydrogen-technology
research laboratory at the company's site, it said.
Siemens and the research institute will invest around 30 million
euros ($33.8 million) in the development, according to the
company.
In November 2017, Siemens originally announced the closing of
its turbine plant in Goerlitz amid a series of job cuts and
restructuring to boost competitiveness in its power-and-gas
division, but decided against it one year later.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 15, 2019 10:14 ET (14:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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