14 DAY TRIAL // Nokia's factory from Bochum, Germany, is now closed (as of June 30), and it looks like the Finnish company has reached convenient agreements with the German authorities, agreements set to be beneficial for all the involved parties, including the ex-Nokia employees from the Bochum plant.
Together with the City of Bochum and the Government of North Rhine-Westphalia (where the city is situated), Nokia has developed a "Growth for Bochum" program. This is intended to create new jobs and attract new investments in the Bochum area, with the help of a "proactive, international campaign" that will be launched soon.
As part of the "Growth for Bochum" program, Nokia will have to find a competent buyer for what's left of the Bochum facilities.
In order to support the new program, Nokia will initially contribute with 20 million Euros as well as with the amount of money resulted from the Bochun plant sale. The NRW (North Rhine-Westphalia) federal state will contribute to the investment too.
"We said in January that, as a responsible company, we would work together with the employee representatives, unions, NRW Government and City of Bochum to find ways to support employees and Bochum's future growth both during and after the difficult process of closing the factory. We are pleased to now announce this important milestone," declared Rick Simonson, Chief Financial Officer and Executive Vice President at Nokia. "This agreement with the NRW Government and the City of Bochum aims to create jobs and bring new companies to the Bochum region. All parties share the strong belief that the 'Growth for Bochum' program will provide a good impetus for sustainable job creation in Bochum and the region."
Dr. Ottilie Scholz, Bochum Mayor, also said: "It is not easy for Bochum to deal with the loss of Nokia. However, I am pleased that we will receive strong support from Nokia and NRW in the search for investors and in identifying new job creation opportunities."
Following the announcement of "Growth for Bochum", Nokia will no longer have to pay back the much-talked-about 60 million Euros subsidies that the German authorities have claimed in the past.