SIEMENS SETS UP SWITCH JV IN SHANGHAI
AsiaInfo Services, July, 2002
AsiaInfo Services 07-09-2002 Siemens Sets up Switch JV in Shanghai SHANGHAI, Jul 09, 2002 (AsiaPort via COMTEX) -- German multinational Siemens hasteamed up with China's largest high voltage switch producer tolaunch a high voltage switch joint venture in Shanghai. The Shanghai Siemens High Voltage Switchgear Ltd.
has aninvestment of nine million U.S. dollars, with Siemens holding 51percent of the stakes, and the Chinese partner, Shanghai HuatongSwitch Factory, 49 percent. Siemens sources said it was the first time the firm would produceits top quality switch products outside Germany and the jointventure's technical progress would be synchronized with the Germanplant. The new joint venture expects a turnover of 170 million yuan (20million US dollars) and a...
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