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German Tech Giant Siemens Has No Plans to Leave London

Britain BrexitBritain Brexit
Anti Brexit campaigners carry flags and banners as they march towards Britain's parliament in London, Saturday March 25, 2017. Britain's Prime Minister Theresa May is expected to start the process of leaving the European Union on Wednesday March 29. (AP Photo/Kirsty Wigglesworth)Kirsty Wigglesworth AP

German engineering group Siemens said it was committed for the long term to Britain, which will begin the formal process of leaving the European Union on Wednesday.

The trains-to-turbines group employs more than 15,000 people in Britain, has played an important role in London’s Thameslink and Crossrail rail projects and is investing 160 million pounds ($201 million) in a wind turbine-blade factory in Hull.

“While the exact terms of the UK’s exit from the European Union are unclear, we are committed to London in the long-term,” Siemens’ UK Chief Executive Juergen Maier said in a statement.

A record number of millionaires are fleeing this country.

Deutsche Bank also gave a vote of confidence in Britain’s capital by choosing a new office for its London headquarters last week.

Google, Facebook, Apple, Snap and Amazon have also announced investments in London, although entrepreneurs have warned that the city risks its status as a start-up destination if the government does not clarify how it plans to keep the best talent.

Siemens did not detail its UK investment plans on Monday.