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The Ltd. will also
function as a modification center for air and moulded-case circuit breakers (ACB / MCCB) and will also provide industrial solutions and services. This move gives Siemens the capability to improve its competitiveness and increase the share in a market currently dominated by regional suppliers and contractors.
Siemens Automation Systems Ltd. will be located in Vietnam Singapore Industrial Park in Binh Duong province, about 20 km apart from the existing Siemens Ltd. and Siemens AG Representation Office in Ho Chi Minh City. With an investment of EUR 4,000,000, fully financed by Siemens AG, the Ltd. can offer 150 interesting and challenging jobs to the local labor market. According to the plan the production will start operation in April 2006 and about 80% of the products manufactured in this company will be exported to countries in the region.
Hans Beil, president and CEO of Siemens Vietnam, commented: “During the last years, Vietnam followed a very consequent roadmap to reform its economy. Today Vietnam is arising as a very interesting market, encouraging foreign investments with much improved business environment. Due to this fact and to keep the promise of invest more intensively in local manufacturing we have decided to establish the Automation Systems Ltd. in Vietnam. Furthermore, we will continue to support the development in economy and infrastructure by offering our partners and customers a wide range of competitive and innovative solutions and services, meeting their demands, helping the improvement of existing or implementation of new technologies ”
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