Siemens to build first US high-speed rail factory in New York [Yahoo! Finance]
ALSTOM UNSP/ADR (ALSMY)
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Source: Yahoo! Finance
The almost 300,000-square-foot facility will be built in the village of Horseheads, New York over the next two years. Production at the site is expected to begin in 2026 with the construction of the first American Pioneer 220 trains. CEO Michael Peter said: “This new facility in Horseheads, New York, marks the beginning of a brand-new industry in the USA – bringing both high-speed rail production and some of the world's most modern trains to the continent for the first time.” Siemens said the location of the new factory was chosen due to the existing workforce in the area and its industrial history, with funding from the local government towards construction also likely a factor in the manufacturer's decision. Around 300 staff are expected to be employed at the facility, located in the same state as the Siemens Mobility North American Headquarters, with an agreement already signed with the International Association of Machinists for union representation of workers. Siemens wa
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