ABB to invest in Xiamen

Swiss engineering group ABB plans to invest $300 million over the next five years to set up a production hub for power products in Xiamen, East China's Fujian Province.

The New York Stock Exchange-listed ABB engages in the electrical engineering industry.

ABB generates the majority of its sales revenue in China from localized manufacturing. The Swiss group currently employs 19,000 people in the country across 109 cities.