GE and China's XD Electric to partner
May 7 (Reuters) - General Electric Co said it was buying a 15 percent equity stake in China XD Electric Group and would partner with XD to provide technology to build and upgrade electrical systems.
GE said the companies would delivery electric transmission and distribution (T&D) and grid automation solutions to customers globally.
GE will also appoint a representatve to XD's board of directors.
XD Electic, traded on the Shanghai stock exchange, manufactures electricity tranmission and distribution equipment. It exports products to over 40 countries and regions throughout Europe, the United States, Asia and Africa.