Chinese

On May 23, 2005, the Siemens Automation and Drives Group join hands together to establish a new joint venture-Siemens Low Voltage Circuit Breaker Co., Ltd (SCBC), signing the contract in Grand Hyatt Shanghai hotel, signaling the strategic march to Chinese CEP market.

Government officials from Shanghai Ministry of Foreign Trade and Economic Relationship (MOFTEC); Mr. Jiang Yao，governor of Qiangpu District; Mr. Herweck, General Manager of A&D and Vice-President of Siemens Ltd., China, Mr. Siegers, Head of Divistion, Low Voltage Controls and Distribution, Siemens AG; Mrs. Meng Weiming, President of Shanghai Jingyi Electrical Apparatus Co., Ltd. Mr. Lu Honglin, Vice-president of Shanghai Jingyi electrical Apparatus co., Ltd attend this ceremony and deliver the speech. Around 100 customers and media are invited in the scene.

The new joint venture, with registered capital of RMB180 million, located in Shanghai is aiming to the development, manufacturing, marketing and sales of comprehensive range of low voltage circuit breakers for both local and international market。 Employing innovative technology, global sales network and comprehensive product portfolio, the new company is well positioned to capture the leading position in China's circuit breaker market.

This acquisition activity is seen as the strategic complementation of low voltage products portfolio and expand market share through partnership with strong local player. It blazes a new path to the growth of Low voltage business in China. Backed by complete products line and comprehensive sales network, A&D CD is full of confident to capture the No1. or No position in LV market in near future.