Eastern Germany a Mainstay for Canadian High-Tech Firms

10/21/2009

Berlin – Eight out of the ten largest Canadian investment projects in Germany went to the East. This is the result when examining Canadian investments in Germany in terms of jobs created over the past five years, according to fDi Markets. High-tech companies 5N Plus and Future Electronics share their success stories at the "How Far East? Rethinking Your Corporate Presence in Europe" road show stop, organized by Germany Trade & Invest in Montreal, Quebec, on October 22nd.

There are approximately 300 Canadian companies with more than 7,000 employees in Germany. Driven in large part by the eastern federal states, investment projects by Canadian firms in Germany have been on the rise since 2006. One reason is the robust high-tech landscape and continuing growth potential of the region. Investor interest has concentrated heavily on growth sectors that are active in Eastern Germany. These include the IT, electronics, healthcare, and renewable energies branches.

Bernard Betts, Vice President of Worldwide Distribution Operations at Future Electronics, details the opportunities available in Eastern Germany. Future Electronics has made a multimillion Euro investment in a European Distribution Center in Leipzig. Slated to open in the Eastern German city in 2010, Leipzig was chosen out of ten potential European locations. The semiconductor and electronic component distributor has six other offices in Germany, including one in the Eastern German city of Erfurt.

Jacques L’Écuyer, President and CEO of 5N Plus Inc., also outlines his company’s success in Eastern Germany at the event. The company, with an office in Eisenhüttenstadt near Frankfurt (Oder), specializes in high-purity metals and supplies the thriving solar and electronics industries in the Eastern Germany.

The event on October 22nd serves potential Canadian investors looking to do business in Eastern Germany. The Montreal stop also includes an address by Klaus Geyer, Consul General of the Federal Republic of Germany in Montreal. The road show event was preceded by investor events in Toronto and Chicago in June and most recently in the San Francisco Bay Area two days prior.