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Siemens Commits to Post-Brexit UK Investment Plans

Siemens Commits to Post-Brexit UK Investment Plans

Added to MTDCNC by MTDCNC on 12 July 2016

Considered as one of Europe's largest engineering companies, Siemens has committed to continuing its investment strategy in the UK. Pre-Brexit claims warned of the company cooling its investment plans in the UK, but the company is now distancing itself from previous warnings.

The German company was among a long line of multi-national firms to openly back a Remain vote ahead of the 23rd June referendum, but only weeks later the company has confessed it is here to stay. With 13 manufacturing sites around the UK, Siemens has over 14,000 UK staff. 

Speaking at an event at the House of Commons, Siemens Chief Executive Joe Kaeser said:  “The UK matters with or without being a member of the EU. The Brexit vote will not diminish our commitment to the UK. Siemens will not leave the next generation behind."

The chief executive was one of almost 1300 business leaders that signed a letter backing the 'IN' campaign. Whilst Siemens said the referendum was a choice for the British people, it also warned its staff on the 'significant and negative long-term effects' of a Brexit vote. Despite such claims, the company is edging away from its previous position and looking at future UK investment plans. So, for those of us that thought the 'OUT' vote was the end of the world - keep your chin up, there are signs the country is moving from 'a glimmer of hope to staunch British optimism'.

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