Siemens AG said its board has approved an investment of 300 mln yuan to set up a plant to make side-by-side refrigerators in Chuzhou, in China’s Anhui province.
The plant, with an investment of 300 mln yuan, is expected to be put into operation by end-2007,’ a spokesman with Siemens’ home appliance operations told XFN-ASIA.
Annual output is projected at 200,000 units, he added.
Siemens already operates a refrigerator plant in Chuzhou with capacity of 1.3 mln units.
The question “Did I turn off the stove?” is losing its blood-curdling power. As the first supplier, Siemens is now introducing networked home appliances to the market.
American law enforcement authorities have begun a formal investigation into corruption allegations at the troubled German engineering company Siemens, adding to inquiries already under way by prosecutors in five European countries.
Siemens executives yesterday agreed to put off a 30% pay rise for a year and contribute the €5m (£3.4m) to a €35m fund to retrain some of the 3,000 employees threatened with redundancy at its stricken former mobile phone business. The German technology group has suffered a torrent…