HomeWorld RegionsAsiaSiemens chief re-assures Britain post-Brexit

Siemens chief re-assures Britain post-Brexit

Siemens chief executive Joe Kaeser says the German company will maintain its investment in the UK, despite Brexit.

Prior to the referendum the company had made it known that the decision was one for the British people, but had warned its staff on the “significant and negative long-term effects” of a Brexit vote ahead before votes were cast.

To compound fears of a withdrawal from the UK, Siemens also said it was putting new wind power investment plans in Hull on hold in the week following the result. But Kaeser on Monday said it was too early to take a decision in regards to the Hull expansion.
Joe Kaeser
Kaeser told the Telegraph: “We’re here for the long-term and we don’t let ourselves get jerked up and down. We’re staying because the UK is a good place to do business.”

“We never said the UK is in bad shape if it leaves the EU: we said the EU would miss a massive opportunity. Without the UK, the EU may never be able to stand up against superpowers like China and the US,” he said.

“This is to show that the UK matters with or without it being a member of the EU,” he said before adding that the country needed to clarify its future relationship with the EU in order to reduce investor uncertainty and create a “clear roadmaps to encourage future investments.”

Siemens has 350,000 employees, including 14,000 in the UK, working across wind power, turbo-machinery, MRI scanners and healthcare diagnostics.

The management of the company is reportedly meeting in the Cotswolds to formulate a post-Brexit strategy, according to the Independent newspaper.