Leading power and automation technologies group, ABB Ltd. (ABB) recently strengthened its footprint in China with a joint venture agreement with Jiangsu Jingke Smart Electric Company for design, manufacture and servicing of high voltage instrument transformers.
Per the agreement, ABB will be manufacturing transformers like oil and SF6 stand-alone current and voltage transformers, ring-core current transformers, GIS voltage transformers and optical transformers, with voltages ranging from 72.5kV to 750kV. The instrument transformers will measure current and voltages, which in turn will assist in controlling and protecting the power networks.
The JV is aimed at meeting the growing demand for high-voltage instrument transformers in China. The recent agreement is in line with ABB’s business philosophy of “in country for country”, wherein, it builds plants at sites which are closer to end customers in order to strengthen its business relationship. ABB has diversified high voltage products manufacturing facilities in China for the production of circuit breaker and switchgear modules, gas-insulated switchgear, capacitors, disconnectors, apparatus and devices. ABB presently has six manufacturing locations in China.
Based in Zurich, Switzerland, ABB offers a wide range of high-voltage products like generator circuit breakers, air, gas and hybrid switchgear, instrument transformers, disconnectors and power capacitors which are capable of withstanding harsh conditions ranging from (–ve ) 60 degrees Celsius (°C ) to (+ve) 55°C.
ABB presently carries a Zacks Rank #3(Hold). Some other stocks worth a look in the industrial electrical equipment industry are AO Smith Corp. (AOS), Chicago Bridge & Iron Company N.V. (CBI) and Honeywell International Inc. (HON), each carrying a Zacks Rank #2 (Buy).
More From Zacks.com