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LATEST INVESTMENTS


AUTOMOTIVE COMPONENTS REEINVESTS$92MINUK Israel-based REE Automotive, an automotive technology company, has opened a new $92m engineering centre of excellence at the MIRA Technology Park in Nuneaton, UK. The facility will create around 200 new jobs by 2024. It will expedite the company’s strategic plans to meet anticipated global demand for its REEcorner and Electric Vehicle platformtechnology.


COMMUNICATIONS XIAOMI’S2000JOBSFORTURKEY China-based Xiaomi, a communica- tions specialist, has invested $30m to open a production facility in Istanbul, Turkey. The new 14,000 sq mfacility will be a joint venture between Xiaomi and Salcomp, a subsidiary of China-based Lingyi iTech. It will create 2000 jobs and have an annual production capacity of five million smartphones. The new facility will open in quarter one of 2021.


ELECTRONICCOMPONENTS NORTHVOLTEXPANDSINPOLAND Sweden-based Northvolt has announced plans to expand its battery modules plant in Gdansk, Poland. The 50,000 sqmproject will comprise a production facility and a research and development centre. The $200m investment will create 500 jobs. Entering into production in 2022, the new factory will have an initial annual output of 5 GWh.


FOOD&BEVERAGES UKBOOSTFORSEDAMYL Sedamyl, a manufacturer of edible oils and subsidiary of Italy-based Etea, has announced it will invest £80m ($110m) to expand production at its manufacturing facility in Selby, UK. The expansion will see the facility double production, create 75 newjobs and add new product lines. It will increase potable alcohol capacity and enable the production of liquid sweeteners, primarily serv- ing the UK market.


PHARMACEUTICALS €65MDUTCHPHARMAPLAN Alloga and Alliance Healthcare, two subsidiaries of US-based pharmaceu- tical company Walgreens Boots Alliance, will develop a new head- quarters and distribution Centre in Veghel, the Netherlands. Located at Foodpark Veghel, the site will have an area of more than 70,000 sq m, featuring distribution space, offices, and parking. The €65m project is scheduled for completion by July 2022 and will serve Europe.


RENEWABLEENERGY ENERGEANEXPANDSINGREECE UK-based Energean, an international gas exploration and production company, has announced plans to build a $500m carbon dioxide stor- age facility and a hydrogen plant in Kavala, Greece. The new plant will be located within the company’s existing Sigma onshore site. The project will be funded by the EU recovery and resilience facility.


This investment news and data has been provided by fDi Markets, a crossborder investment tracking service that is part of The Financial Times Ltd’s fDi Intelligence division (www.fdiintelligence.com)


STATS


EUROPE GREENFIELD FDI INTOMANUFACTURING BETWEEN 2015AND2020 BY PROJECTNUMBER


100 200 300 400 500 600 700 800


0 Source: fDi Markets April/May 2021 www.fDiIntelligence.com


EUROPE GREENFIELD FDI INTOMANUFACTURING BETWEEN2015AND2020 BY CAPEX


10 20 30 40 50 60 70 80


0 Source: fDi Markets


Europe T


Viewfrom


here are four reasons why regionalism will


take centre stage over the next decade. First is protectionist


andnationalistictendencies. Intimes of crisis, political leaders fallbackon their instincts toprotect their nation’s ownimmediateinterests.The personal protectiveequipmentexport bansin theearlyphaseof the pandemicareagoodexample of this. Butmodern anti-free-trade


impulsesrundeeper.EvenUS president JoeBiden,whofavours internationalco-operationand intendstomendties withfriendsand allies, resorts tonationalistmeasures. Oneof his first acts in officewas to signanexecutiveorderon“Buy American”—adirectsuccession to his predecessor’s policies. Secondis internationalpower


policy.FormerpresidentDonald Trump’schiefconcernwasinchanging thetonality of international relations, withafocuson“de-globalisation”and isolatingChinaviaeconomic decoupling.Conceptssuchas ‘autarky’and‘strategicautonomy’ increasinglyenterourpolitical discourse,and‘nationaleconomic self-sufficiency’ istheyard-stick for successful policiestoday.Butwhen nationalsecurityisusedto restrict tradeandinvestment,suchasin steel, onewonderswhenifweareheading intoaThucydidesTrap. Thirdiscarbonreduction.Greta


Thunberg’scrusadeledcompaniesto think hardabouttheircarbon footprint, resultingingoodsbeing producedcloser tohome. Thishas beenfurtheredbythequadrupling of shippingcosts fromChinatoEurope seenin the firstquarter of 2021. Finally, ofcourse, areclassical


businessreasons,suchasthe shorteningofsupply-chainstoensure supply security.Maybethe bestwe canhopefor rightnowareregional blocssuchasEU,RCEPandUSMCA. Hibernating throughthisadversarial period,andhavinganothergowhen the political climate is milder,could provetobethechosenroute for investingcompanies.■


Martin G Kaspar is head of business development at a German Mittelstand company within the automotive industry.


Email: martin.georg.kaspar@gmail.com 69


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TURKEY UK RUSSIA FRANCE GERMANY


Capex ($bn) RUSSIA


GERMANY TURKEY FRANCE POLAND


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