Germany based Siemens to invest $132.6Mn in Canada. The Greater Montréal plant of Siemens will get investment of $110.6Mn for research and development works mainly focused on design and improvements of aero-derivative gas turbines. The remaining $22Mn investment will be used for launching Industry 4.0 platforms.
For the investment Siemens plant will get $20Mn support from the Québec Government.
Siemens is a German conglomerate headquartered in Berlin and Munich. It was founded by Werner von Siemens and Johann Georg Halske on 12 October 1847.
The principal divisions of Siemens are Industry, Energy, Healthcare, and Infrastructure & Cities. Industrial automation division is its largest and most profit making division whereas its medical diagnostics equipment division stands in second spot.