Siemens pledges commitment to post-Brexit UK

FILE PHOTO: People covered with umbrellas walk next to a Siemens building in Munich

FRANKFURT (Reuters) – German engineering group Siemens <SIEGn.DE> said it was committed for the long term to Britain, which will begin the formal process of leaving the European Union on Wednesday.

The trains-to-turbines group employs more than 15,000 people in Britain, has played an important role in London’s Thameslink and Crossrail rail projects and is investing 160 million pounds ($201 million) in a wind turbine-blade factory in Hull.

“While the exact terms of the UK’s exit from the European Union are unclear, we are committed to London in the long-term,” Siemens’ UK Chief Executive Juergen Maier said in a statement.

Deutsche Bank <DBKGn.DE> also gave a vote of confidence in Britain’s capital by choosing a new office for its London headquarters last week.

Google <GOOGL.L>, Facebook <FB.O>, Apple <AAPL.O>, Snap <SNAP.N> and Amazon <ANZN.O> have also announced investments in London, although entrepreneurs have warned that the city risks its status as a start-up destination if the government does not clarify how it plans to keep the best talent.

Siemens did not detail its UK investment plans on Monday.

($1 = 0.7942 pounds)

(Reporting by Georgina Prodhan, editing by Louise Heavens)

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