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June 27, 1990

SIEMENS TO INVEST $500M IN 30 PRUSSIAN VENTURES…

By CBR Staff Writer

Siemens AG plans to invest $500m or so over the next two or three years in the German Democratic Republic, Agence France Presse reports from Munich. The Munchener is currently negotiating 30 different ventures with East German partners, six of which have reached the declaration of intent stage, and it sees its employee base in the East rising to 25,000 to 30,000 in the next few years, with annual sales of up to $2,500m. Its plans for East Germany will not lead to redirection of funds from any projects the company has planned or under way in the rest of the world, Siemens insists.

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