Intel Capital, U.S. computer technology provider Intel Corporation's global investment arm, has invested 10.5 million U.S. dollars in a Chinese automation technology company SUPCON Group.
The SUPCON Group Co., Ltd, based in Hangzhou, capital of east China's Zhejiang Province, is one of the leading Chinese firms that specialize in distributed control systems (DCS), a manufacturing control system.
It has more than 5,000 customers in fields including petrochemical, chemical, power and food processing.
Arvind Sodhani, president of Intel Capital, said Intel Capital's mission is to invest in global technology innovation, and he believes the transaction will contribute to the growth of China's IT industry.
The investment was channeled into the group's subsidiary Zhejiang SUPCON Technology Co., Ltd.
Chu Jian, SUPCON's board chairman, said he hopes to obtain advanced technology and global resources through cooperation, and turn his company into a global automation solutions provider.
According to a statement announced by the two companies on Wednesday, SUPCON will cooperate with Intel in development and promotion of Intel's industrial automation solutions in China. Intel will support SUPCON's global productions and sales, and help the latter to expand business outside China.