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 Mobile Phones


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Nokia tries to make good on closed German Factory with over $32m Investment

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>
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