Davos, Switzerland, January 20, 2017 – German firm Siemens AG will invest $110.6 million at its Dorval, Québec, plant through its subsidiary Siemens Canada for research and development work on the design and improvement of aeroderivative gas turbines. These turbines are used to generate electricity and serve as a backup power source when the regular network is unable to meet demand.
This global leader in advanced technology will also invest $22 million to implement an Industry 4.0 technology expertise platform and new integrated training system for the workplace inspired from the German “dual” model. Implementation plans and manufacturing initiatives will be developed in cooperation with the full range of partners, including educational institutions, Québec’s Ministère de l’Économie, de la Science et de l’Innovation, and Investissement Québec.
In support of these investment plans, the Government of Québec will accord a $20 million loan to the company.
“Economic, financial, and political stability has created a climate conducive to investment. Our economic plan is delivering concrete results and attracting attention to Québec. With a highly qualified workforce, first-rate educational institutions, and a business environment that inspires confidence, we are ideally placed to develop Québec talent, strengthen our economy, attack new markets, and make our global presence felt.”
Philippe Couillard, Premier of Québec
“Siemens is among a select few companies able to link the digital and material worlds. This agreement, which follows on our meeting last summer in Munich with the premier, will provide Québec with the benefit of our expertise and know-how in these areas while making our Dorval facility more competitive. We appreciate the valuable cooperation we received from the Government of Québec and Investissement Québec in reaching this agreement.”
Joe Kaeser, President and Chief Executive Officer, Siemens AG
“In today’s increasingly competitive world economy, Québec-based manufacturing firms must invest in innovation and technology to maintain their level of excellence. Our government is therefore happy to support projects like the one announced today and thereby permit firms from our innovative manufacturing sector to improve their expertise and gain a leg up on the competition. That was the reason behind our announcement several months ago that we were earmarking $700 million to help boost productivity at manufacturing firms looking to enter new foreign markets.”
Dominique Anglade, Minister of Economy, Science and Innovation, Minister responsible for the Digital Strategy
“Siemens Canada is known around the world for manufacturing innovation. Our numerous discussions with Siemens spurred our reflection on our Manufacturing Initiative launched last October. It calls for ten strategic actions to boost innovative manufacturers in every region of Québec.”
Pierre Gabriel Côté, President and Chief Executive Officer, Investissement Québec
To receive Investissement Québec press releases in real time, subscribe to the following RSS feed: http://feeds.feedburner.com/IQ-PressReleases
1 844 474-6367