Good morning Hamilton Investors! The closing of the Hamilton Siemens plant is planned for next year in July. Click here to link to the article in the Hamilton Spectator
Don’t have time to follow the story? Here are my takeaways:
- The reasons for closing the plants are: incentives from their new home in North Carolina and proximity to their customer base and not due to Hamilton’s skilled labour force. These are sound business reasons when you factor in having to cross a border and the rising cost of fuel for transportation
- For all you home service providers (aka landlords) with clients (aka tenants) who are employed by Siemen’s Hamilton you better be communicating with your clients
- Not all is lost… yet. Siemens has an order from Samsung to build wind turbine blades and Hamilton has been shortlisted along with Windsor as 1 of 8 potential locations
- A decision will be made at the end of this month and I’ll be sure to keep my eyes on it.