Sig Manufacturing has signed a memorandum of understanding (MOU) with Germany’s Siemens AG to develop the Sig Manufacturing and Manufacturing Systems (SMS) facility, the company announced.
The company is in discussions with Siemens about the facility, which will be located in a facility that already exists in Germany, said Sig Manufacturing president Markus Pflueger.
The agreement is aimed at increasing the competitiveness of Sig Manufacturing’s products and increasing its market share.
Sig Manufacturing already produces components for some of the biggest brands in the world.
Siemens’ announcement comes after the German government announced it would invest $100 million to develop and develop a new Sig manufacturing facility in Germany.
The facility will be part of a €1.2 billion plan to support and strengthen the country’s economy.
Sig has already been investing in manufacturing since it started production in 2016.
Sig is currently one of the largest players in the German market, with over 3,000 employees.
The new Sig facility will create a major boost to the company’s manufacturing capabilities.