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Siemens Transfers Core Technology to China
With the founding of Shanghai Siemens High Voltage Switchgear Ltd, Siemens has transferred for the first time to China its core technology for making high voltage gaseous insulated switchgears.
This new company, co-funded by Siemens and Shanghai Huatong witchgear Works, is dedicated to manufacturing high voltage gaseous insulated systems of 110, 220, 500 kilovolts and higher.
The sales of the products will reach 284 million yuan (US$34.3 million) in five years. Some of the products will be exported.
It is the first time for Siemens to cooperate with overseas enterprise to make the most advanced high-tech products of their kind.
The company will provide quality products and services to the city's power supply and rail transportation, and therefore could accelerate the innovation of urban and rural power transmission and distribution networks in China.
So far, Siemens has opened over 50 companies in China, whose sales this year has so far exceeded 2 billion Euroes.
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