Tuesday, November 23, 2010

German properties | Properties Germany | Property Investment

Breakthrough

The other breakthrough investment, in 1995, was by German manufacturing giant Siemens AG, which was also drawn to Saxony’s pro-business climate and skilled workforce -- a legacy of the communist-era, Saxony-based computer-maker VEB Kombinat Robotron.

As with VW, Siemens opened the floodgates to other investments in the sector. In the late 1990s, Advanced Micro Devices Inc. began building computer chip factories in Dresden. The Dresden manufacturing campus, now owned by an AMD-Abu Dhabi joint venture called Globalfoundries Inc., is the largest chip- making center in Europe and one of the most advanced in the world.

“AMD was set to go to Ireland, and that investment was diverted to Saxony because of Prime Minister Biedenkopf and his team,” says Jens Drews, Globalfoundries’ director of government relations. “They were visionaries.”

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