DM 2.4 billion Siemens microchip plant project for Dresden.

Siemens, Germany's largest electronics manufacturer, is to invest DM 2.4 billion ($1.42 billion) over 10 years in a new microchip plant in Dresden. The project will be one of the largest single investments in eastern Germany and the biggest anywhere in the European electronics sector in recent years. More than 1,200 jobs will be created, and another 2,000 ancillary jobs are expected to grow around the new plant. The investment is part of Siemens' strategy aimed at increasing its share of international telecommunications market, which is expanding rapidly, particularly in Europe. Gro