German Automation Giant Siemens Invests More In US, Creates New Jobs: A Boon For Data Centers?
Portfolio Pulse from Shivani Kumaresan
Siemens AG (OTC:SIEGY) plans to invest over $500 million in the U.S. manufacturing sector, including a $150 million high-tech manufacturing plant in Dallas-Fort Worth, Texas, to support American data centers and critical infrastructure. The company also plans to invest in a new rail manufacturing facility in Lexington, North Carolina, and two electrical-products manufacturing plants in Texas and California. These investments are expected to create 1,700 jobs and are part of Siemens' €2 billion global investment strategy for 2023.
November 03, 2023 | 5:42 pm
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Siemens' significant investment in the U.S. manufacturing sector could boost its presence and profitability in the region, potentially leading to a positive impact on its stock.
Siemens' planned investment in the U.S. manufacturing sector, including a high-tech manufacturing plant to support data centers, indicates a strategic move to expand its presence and profitability in the region. This could lead to increased revenues and profitability for the company, which could positively impact its stock price.
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