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GE inks JV deal with Shanghai Guangdian

By Bao Wanxian (chinadaily.com.cn)
Updated: 2009-02-25 18:37

GE Consumer & Industrial signed an agreement on Wednesday with Shanghai Guangdian Electric Group Co Ltd (SGEG) to establish a new joint venture, aimed at expanding the domestic electric components market.

Involving a total investment of around $20 million, the joint company will focus on upgrading SGEG's technology and production process.

The new venture, to be located in Shanghai's Fengxian district, is expected to provide 400 jobs after it becomes operational in late October.

GE and SGEG already have two joint ventures, Shanghai GE Breakers Co and Shanghai GE Guangdian Co.