The new company will provide a significant contribution to the development of the power transmission and distribution manufacturing industry in China.
Zurich, Switzerland, February 14, 1996 - ABB, the international electrical engineering company, today announced the formation of a new joint venture in China to produce advanced power transmission equipment for the Chinese market. The company, named ABB High-Voltage Switchgear Company Ltd, is 60-percent owned by ABB and 40-percent by Beijing Switchgear Factory (BSF), one of the major Chinese producers of power transmission and distribution equipment. It will be located in the Beijing Economic Technology Development Zone, 15 kilometers south of the center of Beijing, and will employ approximately 150 people.
The new joint venture will specialize in the design, manufacture, marketing and sales of high-voltage switchgear and related equipment to meet China's growing demand for high-quality power transmission installations. The new company will gain by sharing in ABB's latest technology in this field and will be able to deliver advanced products to Chinese industrial customers and utilities. The creation of the new company will provide a significant contribution to the development of ABB's power transmission and distribution manufacturing facilities in China.
ABB High-Voltage Switchgear Company Ltd, Beijing, is part of ABB's Power Transmission and Distribution segment, employing over 46,000 people worldwide with orders in 1994 of nearly US$ 8 billion. The ABB Group employs approximately 212,000 people worldwide with orders in 1994 of nearly US$ 32 billion.
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