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Strategies & Market Trends : ABB (Asea Brown Boveri) ADR

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From: tech1013/1/2009 5:31:45 PM
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BEIJING -(Dow Jones)- Chinese entrepreneurs visiting Europe as part of a delegation led by Commerce Minister Chen Deming signed agreements to buy more than $300 million worth of goods from Swiss companies during a buying tour, China's Ministry of Commerce said Thursday.

The Swiss companies include electrical engineering company ABB Ltd. (ABB) and cement and building aggregates company Holcim Ltd. (HOLN.VX), the ministry said in a statement posted on its Web site.

Under the agreements, Chinese companies will import technical software, electric equipment and metals from Switzerland, the statement said.

The Chinese delegation, which comprises approximately 200 entrepreneurs, started its tour of Europe in Germany on Wednesday, and Switzerland was the delegation's second stop. The delegation will also visit Spain and the U.K.

In addition to the contracts with Swiss companies, the delegation also signed agreements with German companies valued at more than $10 billion, Chen said.

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