Siemens to develop in Brazil

Siemens AG said its Information and Communication Mobile unit is to invest $110m (€100m) during the next five years in Brazil in the research and development of mobile phones for the Latin American market.

The company will increase the number of engineers in Manaus from 140 to 200 at the end of 2004.

Joe Kaeser, management board member of ICM said: "The Latin American market is very promising for Siemens."

Brazil becomes one of five locations in the world where mobile phones are developed, in addition to Germany, Denmark, China and the US.