Beijing, March 5, 2002 – ABB, the global power and automation technology group, announced that it has invested another US$10 million in Chongqing to enhance its leadership in power transformers as support to the government’s western region development strategy.
"Chongqing is the most industrialized city of the western region and plays an important role in leading the region’s development. Our transformer company, the most modern and the only one strategically located in the southwest of the nation capable of manufacturing large power transformers of 500 kV level, is well-positioned to tap the abundant hydropower resources and to participate in the countries ‘transmission of electricity from west to east’ program," said Peter Leupp, President and Country Manager of ABB China.
In partnership with local investors, the ABB Chongqing Transformers Co. Ltd. is ABB’s single largest investment in China and employs about 700 people. Orders received in 2001 topped 10,000 MVA. With the additional investment, ABB is the majority owner of the joint venture company.
ABB (www.abb.com) is a global leader in power and automation technologies that enable utility and industry customers to improve performance while lowering their environmental impact. ABB has 155,000 employees in more than 100 countries. In China, ABB maintains a workforce of 6,000 people in 27 companies.
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