Economy

Markets

Industries

Insights

Reports

Events

ABB, Sanpower form joint venture

(Agencies)
Updated: 2008-04-17 11:55

Power and automation technology group ABB said it has signed a 50-50 joint venture agreement with Sanpower Group, the parent of Jiangsu Hongtu High Technology Co Ltd.

According to a statement published on ABB's website, the venture, ABB Traction Converters Ltd, will be based in Nanjing, capital of eastern China's Jiangsu province. It will design and manufacture traction and auxiliary converters for rail transportation.

Sanpower Group is one of the biggest private enterprises in Jiangsu Province. It has interests in manufacturing, real estate and IT retailing.