Siemens invests 20m euros in Iasi

Siemens VDO Automotive, part of the German group Siemens, is expanding its activity in Romania with a new research and development centre to be opened in Iasi. Local authorities say company plans include investments of over 20 million euros until 2009, as well as hiring 500 hi-tech experts. “The company plans to start producing automotive software in a few years” time”, Lucian Flaiser, chairman of the County Council in Iasi told ZF. The company rented 2,000 square metres in the Tehnopolis Technological Park last month. “Siemens has already hired its first employees and is currently arranging the space it was granted”, says Dan Grosu, chief executive of Tehnopolis, the first technological park in Romania. The chairman of the county council says this is the first contract signed with a multinational company; other investors are interested in coming to Iasi, as well. “We are currently under negotiations with other international groups, but we cannot provide any more details until we sign a deal” said Flaiser. ZF