Finance
Siemens Energy to expand Nuremberg transformer production site
Published by Global Banking & Finance Review®
Posted on September 5, 2025
1 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 5, 2025
1 min readLast updated: January 22, 2026
Siemens Energy is investing €220 million to expand its Nuremberg transformer plant, creating 350 jobs and increasing capacity by 50%.
(Reuters) -Siemens Energy will invest 220 million euros ($257.55 million) in a three-year project to expand its transformer manufacturing facility in Nuremberg, the energy technology company said on Friday.
Siemens Energy said the move is set to create 350 new jobs and boost production capacity by around 50%. Currently employing around 1,000 workers, the Nuremberg plant has been producing transformers since 1912.
"Germany remains attractive when business and politics jointly take responsibility," said Siemens Energy CEO Christian Bruch. Over the past three years, Siemens Energy has invested around one billion euros in Germany, the company said in a statement.
($1 = 0.8542 euros)
(Reporting by Maria Rugamer; Editing by Matt Scuffham)
Job creation refers to the process of generating new employment opportunities, often through business expansion or new investments, which can help reduce unemployment rates.
Investment is the allocation of resources, usually money, into an asset or project with the expectation of generating a profit or income over time.
Renewable energy is energy derived from natural processes that are replenished constantly, such as solar, wind, and hydroelectric power, which are considered sustainable alternatives to fossil fuels.
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