Siemens to Increase R&D Spending by EUR450 Million in Fiscal 2018

Siemens AG (SIE.XE) said Friday that investments in research and development will rise an additional 450 million ($530.6 million) in fiscal 2018 as it tries to accelerate its innovation process.

With the additional spending, total research-and-development spending will reach more than EUR5.6 billion compared with EUR5.2 billion in fiscal 2017.

Of that, around EUR500 million will be invested in its core technologies including additive manufacturing, autonomous robotics, data analysis and artificial intelligence, as well as power electronics and distributed energy systems.

In a separate release, the company said it opened a new energy-services facility in Berlin.

The MindSphere Application Center has been designed so that energy customers, software engineers and Siemens engineering experts can explore the customer value offered by the company's digital-services tools and solutions.

Additional facilities will open in the future, Siemens said, with Orlando and Shanghai opening in the next few months.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

December 15, 2017 03:24 ET (08:24 GMT)