Siemens pulling out of Prague-Zličín

The German concern Siemens has decided to pull out from its railway vehicles producing plant in Prague-Zličín by the second half of this year, the company announced in a press release on Wednesday. The company intends to regroup its European production activities to boost its long-term competitiveness. Siemens is looking for a buyer, but a spokesman for the concern did not rule out that the Prague plant may eventually be sold. The plant has over 1,000 employees.