- Siemens, a German multinational conglomerate corporation has a global plan to increase supply chain resilience that will cost 2.2 billion euros to implement. The CEO, Roland Busch of the company announced this at the Singapore office.
- The business intends to take advantage of economic recovery programs in the US and Europe by expanding its factories, research facilities, and training facilities across the globe.
- Additionally, Siemens announces a 200 million euro facility for its Singapore industrial automation branch thereby increasing spending on Research and Development (R&D).
- The impact of COVID-19 pandemic on supply chain and logistics may have prompted the expansion effort, which would diversify operations and lessen reliance on specific nations.
