Siemens reaches deal on future of German VDO plant

Newswire

FRANKFURT, April 22 (Reuters) - German engineering conglomerate Siemens has reached a deal with the works council of its car-parts unit, VDO Automotive, to secure the future of a German plant, it said on Friday. Despite the fact that it plans to move some production to a new plant in Ostrava in the Czech Republic, Siemens will invest 60 million euros ($78 million) in its factory in the German town of Wuerzburg by 2010, a spokesman said. In return, the management and works council have ...

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