Global engineering and electronics firm Siemens plans to consolidate five Dublin operations into one high-tech campus in Sandyford, Co Dublin.

The strategy should create cost savings by introducing greater efficiencies at its Irish subsidiaries and may net the parent firm cash through property disposals.

Siemens is reviewing all Irish operations and has submitted a planning application for the new campus at its existing Siemens site in Sandyford.

Siemens Irish managing director Mr Richard Crowe told The Irish Times yesterday the review and consolidation would not result in job losses at the firm. He said the new Sandyford complex would accommodate up to 600 staff. This would take most of Siemens's Dublin offices, he added.

The proposed campus is a five-storey building with a floor area of 6,835 sq m. The planning application shows the building would have underground parking for 120 cars.

Siemens employs 1,100 people in Dublin and Cork in sectors such as medical, power generation and high-tech services.