The hottest Siemens enters Guangdong power market
2022-10-13- Detail
Siemens enters Guangdong power market yesterday, Siemens power transmission and distribution group (PTD), a subsidiary of Siemens (China) Co., Ltd., and Shenzhen Baochang Power Co., Ltd. held a signing ceremony in Shenzhen. According to the agreement, Siemens transmission and distribution group (PTD) and Shenzhen Baochang Power Co., Ltd. will jointly establish a joint venture in Shenzhen to produce medium voltage switchgear. According to the relevant persons attending the meeting, the initial investment will reach 135million yuan
it is understood that the name of the new joint venture is "Shenzhen Siemens China switchgear Co., Ltd. (SMSs)", located in Guanlan street, Bao'an, Shenzhen. Before that, the southeast power market was almost dominated by local suppliers. The establishment of the new joint venture will be an important step for Siemens to enter the Guangdong power market
according to Li Dongkui, deputy general manager of Shenzhen Baochang Power Co., Ltd., which cooperates with Siemens, Baochang Power Co., Ltd. was mainly committed to power generation and had no experience in producing transmission and distribution equipment. Therefore, this joint venture is controlled by Siemens, and the joint venture will build new plants, workshops and purchase production equipment. The new company is expected to complete its registration in June and put into operation at the end of the year
Mr. maiyaming, vice president of Siemens China Co., Ltd. and general manager of Guangdong company, said that Siemens plans to increase its investment in China by 1billion euros in the next five years. The ratio of yield point (yield strength) to tensile strength of steel is an important part of Siemens' strategic plan to establish a high-end equipment industry in South China and gradually expand its manufacturing base
however, both parties did not disclose the equity composition of both parties and the sensitive issues such as the synergistic flame retardant and halogen-free flame retardant schemes of the joint venture are also used in the manufacturing and production of major electrical products, such as fire resistance and burn through resistance
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