On July 17th, Zhejiang CHINT Electric Co., Ltd announced acquisition of Shanghai Xinhua Control Technology (Group) Co., Ltd. CHINT purchased 70% equities of the leading Distributed Control System company in China with 55 million dollars.
The company mainly focuses on providing design, manufacturing and integration of automation control products and solutions for power plants and industrial processes. Xinhua possesses cutting-edge advantage in coal-fired power stations control system. It is the first manufacturer to produce DCS in China. Its featured product DHC used to account for 90% of the Chinese domestic market.
The acquisition will help CHINT to expand its business to automatic control field, extending its product line and business portfolio, to provide more integrated solutions for clients.