Business NewsIntel Seeks Salvation In German Town Of Boom And Bust
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Intel Seeks Salvation In German Town Of Boom And Bust
Germany's Magdeburg, which bore the brunt of two world wars and then thrived, is plotting its latest revival, this time with the help of semiconductors.
The city center of Magdeburg. Photographer: Krisztian Bocsi/Bloomberg
(Bloomberg) -- Magdeburg knows a few things about comebacks. The East German city was destroyed three centuries ago during the Thirty Years’ War and then rebuilt into a flourishing industrial center. At the end of World War II, allied bombs pulverized its baroque facades, but Magdeburg reinvented itself as a center of heavy machinery, only to fade again after reunification.