Nokia still "committed" to Bochum - New jobs for old

By John Daly @ Friday, July 04, 2008 11:55 AM

Section - Telecoms/Mobile

Nokia, a very large maker of mobiles and not so large manufacturer of networking equipment, has declared it stands by the City of Bochum and its people, after previously having kicked both in the neither regions when the company said it was closing down its factory and moving it to Romania. The heart-wrenchingly honest, truthful and friendly company announced a 'Growth for Bochum' program together with the government of German federal state North Rhine Westphalia and Bochum.

The oh-so benevolent plan will see the threesome trying to attract suitable investors to the region, so the people Nokia made redundant can find another job. Apart from that, someone is supposed to buy the remnants of Nokia's facilities in Bochum. Perhaps a new company can get up and started in them ol' buildings and create a few new jobs to off-set the thousands lost, even if only a bit.

The parties involved shall also establish 'an Entrepreneur Centre in Bochum to develop and grow new companies which will create high quality employment' and add a chair to the local university which will oversee 'commercialisation of scientific research'.

Nokia is going to shell out 40 million Euros ($62.7 million) in total, plus the money it will earn from selling the factory. The state of North Rhine Westphalia had been applying thumb-screws to Nokia in recent weeks by telling the Finnish company they would have to pay back all subsidies they had previously received for the Bochum facility. Both parties have now settled their issues. Nokia is moving the assembly plant to Romania, where it will receive subsidies once again and have tax payers pay for a place to work. X