Siemens sets up joint venture in east China province

Siemens China set up a joint venture on Friday with a diesel engine company under the China National Petroleum Corporation in Jinan, capital of East China's Shandong Province.

The joint venture, Jinan CNPCSIVAC Electrical Co. Ltd, received a total investment of 8 million yuan (980,000 U.S. dollars), half from Beijing Jumpsun Technology Co. Ltd, a strategic cooperation partner of Siemens China, and half from Jinan Diesel Engine Co. Ltd.

Jiang Xiaoxing, general manager of Jinan Diesel Engine, works as the director of the board of the joint venture.

The company will mainly produce and sell low-voltage switch cabinet equipment by using Siemens technologies, according to Jiang.

Source: Xinhua