Rongxin, Siemens ink JV
Siemens and Rongxin Power Electronic Co., Ltd, a power electronic equipment manufacturer in China, signed an agreement Thursday to build a joint venture (JV) to better service the power transmis-sion market in the Chinese mainland. Both sides did not disclose the investment amount.
"The upcoming JV will help the two parties to communicate and improve the technology used in Flexible AC Transmission System, and help Siemens make up plans more suitable for China,'' said Xiao Song, a senior Siemens China official.
