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American Investors Highlight Successes in Eastern Germany
Date:6/12/2009

CHICAGO, June 12 /PRNewswire/ -- Germany remains an attractive investment location for North American companies, driven by the eastern federal states. This is in large part due to the robust high-tech industries and continuing growth potential despite the economic crisis. American investor interest in Germany remains steady, as confirmed by recent studies. Minneapolis-based Despatch Industries and Nordex AG shared their success stories at the "How Far East? Eastern Germany: The No. 1 Business Location for US Investment Success" road show organized by Germany Trade & Invest in Chicago last night.

There are around 6,000 American companies with over 700,000 employees located in Germany. These companies are active in all major industries. Investor interest has concentrated heavily on growth sectors that are based primarily in Eastern Germany. These include the robust IT, healthcare, and renewable energies branches. The recent Ernst & Young European Attractiveness Survey supports this: Germany was again the number one investment location in Europe for international managers.

Patrick J. Peyton, Chairman/CEO of Despatch Industries, outlined his company's success, highlighting the benefits of doing business in Eastern Germany. Despatch is a leading thermal processing equipment supplier. A driver for the company's achievements, Peyton argued, was the competitive advantage obtained by the region's cutting edge high-tech industries.

Peyton said: "Europe and the Middle East represent growing and strategic markets for our business activities and Berlin as a central location in Europe, with close proximity to our global partners and major customer centers, was the best decision."

Jorg Scholle, Head of Global Production for Nordex AG, a global leader in the wind energy industry, also detailed the company's successes in Germany. Driven by the eastern federal states, Germany is a global leader in renewable energy production, including the photovoltaic, wind, and biofuels sectors. The American economy has also seen significant growth in its renewable energies industry in recent years, further boosted by President Obama's commitment to oil independence.

Based in the Baltic Coast city of Rostock, Nordex profits from Germany's advanced R&D framework, state-of-the-art infrastructure, skilled labor pool, and generous aid incentives.

The event was put on to meet with potential American investors looking to invest in Eastern Germany. Germany Trade & Invest in partnership with the German American Chamber of Commerce of the Midwest, Inc (GACCoM). The Chicago stop also included keynote speeches by Roland Herrmann, Deputy Consul General of the Federal Republic of Germany, and Simone Pohl, President & CEO of GACCoM. The road show was preceded by a similar event in Toronto on June 9. Further events have been announced for the fall, including stops on the US West Coast this October.

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

    Media contact:
    Eva Henkel
    Phone: +49-30-200099-173
    Fax:   +49-30-200099-111
    Eva.Henkel@gtai.com


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SOURCE Germany Trade and Invest
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