Siemens and SHSF Launch High-Voltage Switch Venture
Siemens AG (Munich, Germany) and Shanghai Huatong Switch Factory (SHSF, Shanghai, China) have teamed together to launch a high-voltage switch joint venture in Shanghai. The new company, Shanghai Siemens High-Voltage Switchgear Ltd., is claimed to be the first opportunity for Siemens to produce its switch products outside Germany, and the joint venture's technical progress will be synchronized with the German plant.
Shanghai Siemens High-Voltage Switchgear has an investment of $9.0 million, with Siemens holding 51 percent of the stakes, and SHSF owning 49 percent. The new joint venture expects a turnover of RMB170 million ($20.0 million) and a 45-percent market share in China in its first year of operation.