Chinese Joint Venture for Siemens
Siemens Power Generation (PG) announced that it will establish a joint venture with Jinxi Chemical Machinery Group Co., Ltd (JCMG). The company, named Siemens Industrial Turbomachinery (Huludao) Co., Ltd (SITHCO), located at Hu Lu Dao in Liao-ning Province, will start operation in mid-2005. The joint venture will combine leading technologies from both parties to serve the growing needs of local customers. Through this new joint venture, Siemens hopes to better meet the market demand for industrial power generating units and turbomachinery, with the maximum local involvement of suppliers and equipment.
In March 2005, Siemens signed a strategic cooperation agreement with Liao-ning province to support China’s Northeastern Old Industrial Base Revitalization strategy. The announcement of the new JV is a step to further strengthen Siemens’ partnership with Liao-ning province. Siemens Power Generation has now established five power plant equipment manufacturing joint ventures in Shanghai, a service joint venture in Beijing, and another joint venture for power plant controls in Nanjing. Siemens Power Generation currently has 14 locations in China, including five production facilities, and a total of approximately 7200 employees.
For more information: www.siemens.com/powergeneration