ABB relays will be used for power grid protection
Xiamen, China, December 22, 2004 - ABB, the leading power and automation technology company, said today it will open a new power technologies business in Xiamen, on south-China's east coast - called ABB Transmission and Distribution Automation Equipment Xiamen Ltd.
"We are very excited to continue our long tradition of doing business in this beautiful and investment-friendly city," said Bernd Muehe, head of ABB's Power Technologies business in China. "This new business, part of our plan for profitable growth in China, will manufacture relays for power grid protection, and ultimately help China fight power shortages."
ABB in October announced a five-point plan for profitable growth in China, which included doubling sales from $2 billion in 2004 to $4 billion in 2008 and at least $100 million in new investments in the run-up to 2008.
"Starting this business here will have clear cost and delivery advantages," said Cao Yi, general manager of the new business. "ABB is renowned for the speed with which it can deliver its products. However, it isn't only about speed. It's about being close to your customers. We feel strongly this is a differentiating factor over the long term."
"This new wholly-owned foreign enterprise is a symbol of our commitment to China, and in particular our commitment to Xiamen," said Muehe. "We now have five production facilities here in Xiamen alone."
Operation starts January 1, 2005. The business will handle everything from marketing, sales support, engineering, production and service for ABB relays in China.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies has about 103,000 employees in around 100 countries. ABB in China (www.abb.com.cn) employs more than 7,000 people in 27 companies and sales offices in 30 major cities.