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July 4, 2008

Bochum future plans laid out

BOCHUM, Germany – Together with the North Rhine-Westphalia (NRW) and the City of Bochum, Nokia has unveiled a plan to help stimulate growth in the region following the closure of the Bochum plant.

Nokia’s chief financial officer Rick Simonson said:

“We said in January that, as a responsible company, we would work together with the employee representatives, unions, NRW Government and City of Bochum to find ways to support employees and Bochum’s future growth both during and after the difficult process of closing the factory. We are pleased to now announce this important milestone.”

The Growth For Bochum package is made up of a number of key elements including:

  • International campaign to attract suitable investors to Bochum
  • Establish an “Entrepeneur Centre” designed to develop and grow new companies
  • Help commercialise scientific research
  • Find a suitable buyer for the Nokia facilities in Bochum

Nokia will be supporting the package with 20 million euros plus the net proceeds from the sale of the Nokia production facility and property in Bochum. NRW will also contribute 20 million euros.

Christa Thoben is the economics minister for North Rhine-Westphalia and she said

“Following the social plan agreement between Nokia and the works council it was important for the NRW Government to agree to a future-orientated solution for Bochum. Nokia has made this solution possible, and we are satisfied with the result.”

The whole program is designed to develop the region and provide sustainable job creation for the area of Bochum. A good thing, we say. What say you?

Photo by Maksd