Siemens announces five-year $1bn Brazil investment

Siemens has announced it will invest $1bn (£637m) in Brazil over the next five years.

The company sees Brazil as an important growth market and will use the investment to strengthen and expanding its business in the country.

Investment will span the entire Siemens portfolio — comprising the energy, industry, infrastructure, cities and healthcare sectors — with a focus on localising production and services as well as driving research and development.