New plant propels wind turbine industry
A new multi-million dollar Siemens plant will increase the production of mechanical drives for the wind turbine industry. Investment will create approximately 350 new jobs in Illinois.
Due to the increasing demands for alternative and renewable energy sources, Siemens Energy & Automation Inc. has announced that it would be investing more than $20 million to develop a second plant in Elgin, Ill., for its drives technologies business. Siemens is the largest producer of wind turbine gear drives in the United States. The expansion will increase production, enabling the company to meet the expectations of its customers.
In Elgin, Siemens designs and manufactures mechanical gear drives for the wind industry as well as for the cement, coal and minerals, and oil and gas industries. The new plant, expected to be completed in March 2009,
The State of Illinois and the City of Elgin provided a number of incentives to Siemens to help secure the investment including a Wind Energy Development Grant and Employer Training Investment Program job training funds.
Siemens will be investing more than $20 million in building infrastructure to support the new plant for production, in addition to the cost of a 15-year lease for the new building. The new plant will be used for the assembly and testing of mechanical gear drives. The existing plant will be maintained by Siemens to manufacture the gears and components that will be assembled and tested in the new plant. It will also house the services and repairs business.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey