China Robotics Firm to Buy Another German Peer

[TaiShang]

Oct 26, 2018 08:03 PM

China Robotics Firm to Buy Another German Peer

By Ke Dawei

Industrial robots on display at the World Intelligent Manufacturing Summit in Nanjing, Jiangsu province on Oct. 12. Photo: VCG

Another Chinese company is making a foray into Germany’s robotics market.

Jiangsu Hagong Intelligent Robot Co. Ltd. announced that its board gave the go-ahead for it to acquire Nimak GmBH, along with related companies Nimak KG and Nickel GmbH for 88.03 million euros ($100 million), according to a filing (link in Chinese) with the Shenzhen Stock Exchange on Thursday.

Nimak specializes in manufacturing advanced welding tools and machines for use in automotive, aircraft and household appliance production, according to its website. The deal will still need to gain approval from the German Federal Ministry for Economic Affairs and China’s State Administration of Foreign Exchange, the filing said.

https://www.caixinglobal.com/2018-1...s-berlin-grows-more-protective-101339544.html

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Hopefully this will go ahead.

@long_ , @AndrewJin

 

[艹艹艹]

keep Low-key
Otherwise, the EU will become nervous again.