Siemens Mobility Increases Investment in U.K. Rail Assembly Plant
By Pierre Bertrand
Siemens Mobility, the transport and rail division of German industrial company Siemens, said it will increase its investment in its East Yorkshire Goole Rail Village in the U.K.
Siemens Mobility said that it will invest up to 47 million euros ($51.9 million) in a site that will assemble and overhaul railroad truck chassis.
The facility is expected to be operational by the end of 2026 and will enable the company to expand its capabilities, including new production lines for assembling chassis for new trains.
The investment adds to the up to 230 million euros invested in the now open train manufacturing facility at the village. The village will assemble 80% of London's new Piccadilly metro line trains, which are slated to enter service from 2025.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
October 03, 2024 01:45 ET (05:45 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks