Siemens Invests $30 Million In New Plant

Siemens Energy & Automation, Inc. (SE&A, Atlanta), announced that it is investing an estimated $30 million in the revitalization of its Norwood, Ohio manufacturing facility. The facility is dedicated to developing, assembling and testing large electric motors used in industrial and factory automation. By expanding and redesigning the facility, Siemens will develop a more efficient and productive manufacturing plant. Construction is expected to begin in January, 2006, and be completed within three years.

The revitalization is expected to include a nearly $7 million expansion and renovation of the current Norwood buildings and the purchase of $22 million in new machinery, equipment and technology including $8.5 million worth of machinery and equipment to be used for research and development. Additionally, the investment will create a "Global Motor" research and technology development center in Norwood that will contribute to enhancements in Siemens motors sold throughout the world.

The State of Ohio has provided a number of incentives to Siemens to help secure the investment and proceed with the upgrade. As a result of the expansion, SE&A expects to maintain the 300 full-time positions at the Norwood facility.

"Siemens recognizes the value of American innovation and our skilled and productive work force,” said George Nolen, president and CEO of Siemens Corporation. “This investment is a testament to that ingenuity and work ethic."

Source: Siemens Energy & Automation, Inc.

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