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15 Mar 2000
Siemens is close to clinching a deal on its North Tyneside semiconductor plant which was closed last summer resulting in the loss of more than 1000 jobs.
According to widespread reports today, Siemens chairman Heinrich von Pierer is predicting that the £650m plant could be up and running again soon.
Siemens semiconductor spin-off Infineon is expected to be the new owner of 25 per cent of the plant, along with another unnamed company, believed to be a US chip manufacturer.
In interviews with the local press, von Pierer said the plant could open in the summer if the deal is completed within the next four weeks, with the possibility of 1000 new jobs.
The plant is currently being used by mobile phone giant Orange as a temporary customer support centre.
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