Nokia Tries To Make Good On Closed German Factory With Over $32m Investment

Posted: Jul 3 2008, 6:38am CDT | by , Updated: Aug 11 2010, 9:14am CDT, in News | Mobile Phones

Nokia tries to make good on closed German Factory with over $32m Investment
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Nokia, the State of North Rhine-Westphalia (NRW) and the City of Bochum jointly unveiled a plan today to stimulate growth, create new jobs and generate investment for Bochum and the neighboring cities.

Nokia invests 20m Euro (~$32m) into the Growth for Bochum program plus the net proceeds from the sale of Nokia's production facility and property in Bochum.
The state of NRW will also contribute a co-investment in the amount of 20 million Euros ($32m).
The Growth for Bochum program aims at making the region a more attractive for startups and investors to generate new jobs.

Nokia drew a lot of heat for closing the subsidized plant in Bochum and moving production to Romania earlier this year.
More details in this Nokia announcement.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
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