ABB forms a new joint venture in China and its first in the country for the manufacture of motors.
Zurich, Switzerland, February 6, 1996 - ABB, the international electrical engineering company, today announced the formation of a new joint venture in China to manufacture low-voltage industrial motors for the Chinese and international markets. The company, named ABB Yuejin Motors (Shanghai) Company Ltd, is 55 percent owned by ABB and 45 percent by the Shanghai Electrical Machinery (Group) Company Ltd - a market leader in China for medium and small motors. The new company will be located in Shanghai's Songjiang County and will employ over 1,200 people.
The joint venture will specialize in the manufacture, marketing and sales of low-voltage alternating current (AC) motors from frame size 63 mm to 400 mm for industrial applications. ABB will combine its latest motors technology with its partners 30 years of manufacturing and local market experience to deliver advanced products to Chinas rapidly expanding industrial base. ABB intends to establish a worldclass motors factory in Shanghai, one of the first of its type in China.
ABB now has 14 joint venture companies in China. ABB Yuejin Motors (Shanghai) Company Ltd is part of ABB's Industrial and Building Systems segment, which employs over 89,000 people worldwide with orders in 1994 of over US$ 13 billion.
The ABB Group employs approximately 212,000 people with orders in 1994 of nearly US$ 32 billion.
(End)