A POWER and technology giant with a Stone factory is investing almost £200million in expanding its production in China.
ABB, which has its power systems division in Oulton Road, announced yesterday that it would invest $300million (£181,125,277), alongside the Xiamen municipal government of Fujian, over the next five years.
The funds will be used to set up a new development and production hub for power products and low voltage products in the city of Xiamen. ABB’s existing plants in Xiamen will be relocated to the hub’s upgraded facilities, where production capacity can be expanded.
ABB Group CEO Ulrich Spiesshofer said: “This investment is a strong sign of confidence in China and Xiamen.”
“We continue to serve our Chinese customers with new technologies and products that were developed and made in China to improve energy efficiency and productivity.”