Končar and China XD Electric form joint venture for high-voltage equipment
Croatia, Zagreb: KONČAR – Electrical Industry and the Chinese group China XD Electric Co. have signed an agreement for establishing a joint venture for the manufacture of high-voltage equipment.
The deal marks the founding of KONČAR-XD High Voltage Switchgear, a joint venture company headquartered in Zagreb, with each partner holding a 50% share in the company, Končar said in a press release.
The production range of this $21.5 million investment will supplement the existing products of KONČAR – Switchgear, and it will be primarily intended for European markets.
The new production facilities will enable the assembly and testing of high-voltage equipment of up to 550 kV, and first products are expected to enter the market by the end of 2020.