Abengoa enters China with the purchase of an electrical components factory

The Andalusian company Abengoa, controlled by the Benjumea family, plans to open an electrical components factory in February in the Chinese city of Tianjin, located 150 kilometers south of Beijing.
To this end, it has created a standalone subsidiary, which will allocate four million euros to equip the facilities it has already rented in the Teda business area.
Until now, Abengoa was present in China through Telvent, which has been in the country for 18 years, and Befesa, which last December was awarded the construction of a desalination plant for 54 million euros.
The Spanish firm will begin its activity with the production of auxiliary equipment, although in the medium term Abengoa's plans involve landing in China with all its construction activities and energy and communications infrastructure.
Abengoa, along with Alsa, was one of the first companies to enter the Chinese market when the country's economic opening was still limited. It did so through Telvent, its information technology subsidiary. In the 1980s, China began making significant investments to modernize its infrastructure.
Sainco, Abengoa's original subsidiary in this sector, set out to implement its information and control systems in major transportation networks (highways and subways) and energy infrastructure. The company entered the market in 1986 and established a stable presence from 1998 onwards, the year it opened its first headquarters.
Recently, its weight in this country has increased after the purchase last April of 80% of Beijing Blue Shield, a consultancy and software manufacturer specializing in traffic, ports and airports.

Digital Editorial Team eE

Continuous newsroom for Empresa Exterior. A team specializing in real-time monitoring and writing up-to-the-minute daily news on international markets, ensuring constant updates on B2B developments.

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