German-based Siemens AG invests $132.6 M in Greater Montréal

German-based Siemens AG, through its subsidiary Siemens Canada, plans to invest $110.6 million in research and development activities at its plant in Dorval to design and make improvements to aero-derivative gas turbines. These turbines are used for, among other things, the production of electricity, and serve as a backup source in the event that the existing network is unable to meet the demand.

The global leader in advanced technologies also plans to invest $22 million to launch a platform of expertise related to Industry 4.0 and the implementation of a training system integrated into the workplace, inspired by the German “dual” model. Innovative implementation projects and manufacturing initiatives will be developed in collaboration with all of Siemens’ partners, including educational institutions, the Ministère de l’Économie, de la Science et de l’Innovation and Investissement Québec.

The Québec Government will grant the Company a loan of $20 million to support these investment projects.

The announcement of this project springs from discussions that were held in July 2016 in Munich between the Premier of Québec and Joe Kaeser, CEO of Siemens AG.

Quotes:

“An environment of economic, financial and political stability allows us to create a climate that is conducive to investment. Our economic plan is producing concrete results that are helping Québec to stand apart. A business environment characterized by confidence, highly skilled workers and top-quality educational institutions, represents a winning combination for producing home-grown talent, developing our economy, opening up new markets and carving out our place on the international scene.”

Philippe Couillard, Premier of Québec

“Siemens is among a select few companies that are able to link the digital world to the material world. Following up on our meeting with the Premier in Munich last summer, this agreement allows us to bring our expertise and know-how in these areas to Québec, and to improve the competitiveness of our plant in Dorval. We are proud to have worked in close collaboration with the Government of Québec and Investissement Québec in reaching this agreement.”

Joe Kaeser, CEO of Siemens AG

Highlights:

• A subsidiary of German-based Siemens AG, Siemens Canada specializes in the design and manufacture of energy-efficient technologies, such as gas turbines and electric distribution transformers, and the manufacture of medical imaging equipment on an international scale.
• The Company employs 1,500 people in Québec at its three plants located in Dorval, Drummondville and Trois-Rivières.
• In April 2016, the Government of Québec announced $700 million in funding to support manufacturing companies in their modernization projects. A tour encompassing every region of Québec is currently underway to introduce this initiative.

Consult the full press release here.