Siemens Keeps UK Investment despite Brexit Caution

Posted on 13 July, 2016 by Steph Cowie

Industrial giant, Siemens, has stated that the UK is still a “good place to do business” despite its previous Brexit warning.

Siemens Keeps UK Investment despite Brexit Caution

Chief Executive at Siemens, Joe Kaeser, told a selection of media groups that the German company will remain fully dedicated to manufacturing across the UK.

Siemens currently has 13 plants in the UK and employs over 13,000 people. The previous warning of Brexit affecting investment could have had an adverse effect within the UK economy.

Joe Kaeser also called on Theresa May to confirm the UK’s trade position in a speedy manner, in order to give business some certainty.

The firm was expressive in its fears about the possible negative impact of Brexit, as it deemed the UK as a less attractive prospect to do business with.

The exportation of wind turbine blades from their new £310m manufacturing hub have been placed on hold. Mr Kaeser confirmed that new trade barriers may see exportation of the blades to Denmark and Germany uneconomical.

Siemens has business links with the UK that go back 170 years.

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