Suqian, Jiangsu, August 29, 2012 - ABB, the leading power and automation technology group, signed a contract with Jiangsu Jingke Smart Electric Company here today to set up its 36thlocal company in China. The new company will focus on high-voltage instrument transformers.
Claudio Facchin, President of ABB North Asia and China, said at the contract signing ceremony, "Since ABB established its first JV in China 20 years ago, we have witnessed the continued growth of Chinese enterprises. From 'made-in-China' to 'designed-in-China,' we are very impressed by the fast development of the R&D capabilities of local companies. Jingke is just a good example in this respect. It boasts the most suitable technology for high-voltage instrument transformers that meet local requirements. ABB is delighted to partner with Jingke so that we can deliver greater value to our customers."
"ABB will continue our 'In China For China' strategy by investing in R&D, expanding product portfolios, serving the local market with the most suitable products, one-stop solutions, technologies and fast response. Following this strategy, the new joint venture will expand our offering to local customers," added Facchin.
Wang Jinliang, Chairman of Jiangsu Jingke Smart Electric Company, said, "We are very happy to enter this mutually beneficial cooperation with ABB. As part of the ABB Group, the new company will benefit from ABB's strong brand, technology leadership, and knowledge of operational excellence."
According to the contract, the new joint venture, ABB Jiangsu Jingke Instrument Transformer Co., Ltd., will focus on the design, manufacturing, sales, and service of high voltage current transformers, voltage transformers, and ring-core current transformers. It will start operation before the end of this year.
Instrument transformers are a key component in power grids. They play an important role in measurement, power grid protection, and smart grid solutions.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people. ABB has a full range of business activities in China, including R&D, manufacturing, sales and services, with 18,300 employees, 36 local companies, and an extensive sales and service network across 80 cities.
