Shanghai Electric Group Co. Ltd. (02727.HK 601727.CN) and Japan’s Fuji Electric Group have agreed to set up two joint ventures, one in manufacturing and the other an engineering company, to complement each other’s leadership position in their own markets, the China Securities Journal reported Monday. Each with a registered capital of US$30 million, the manufacturing venture aims to design and manufacture pressure transmitters, flow meters, controllers, inverters, motors, and power equipment, while the other company will provide project engineering, sales and after-sales services, according to the newspaper. The market of electrical transmission systems has been expanding rapidly in China in recent years, with sales of pressure transmitters growing from 5.5 billion yuan (US$902.41 million) in 2010 to over 7 billion yuan in 2011. It is expected that the market size will expand to over 12 billion yuan by the end of 2015, the report said.
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