China's Hagong Intelligent Robot Eyes Auto Sector Via German Acquisition
Tang Shihua
DATE:  Oct 27 2018
/ SOURCE:  Yicai
China's Hagong Intelligent Robot Eyes Auto Sector Via German Acquisition China's Hagong Intelligent Robot Eyes Auto Sector Via German Acquisition

(Yicai Global) Oct. 26 -- Hagong Intelligent Robot has been selected as the winning bidder for the acquisition of German firm Nimak, one of the world's producers of robotic welding guns, in a move aimed at boosting the company's development of solutions for the car manufacturing industry.

Hagong will pay EUR88 million (USD100.1 million) to acquire all equity in Nimak, the Jiangsu-based firm said in a statement, adding that deal requires approvals from both German and Chinese regulators.

The company's selection as winning bidder demonstrates recognition of Hagong's competitiveness within the sector, the statement said. The acquisition is a key component in the enterprise's shift to automotive robot research and development.

Hagong will develop a systematic industrial chain incorporating welding equipment for intelligent robots, as well as a one-stop solution platform for automation solutions and automated welding production lines following the takeover.

Established industry player Nimak GmbH provides products for auto industry mainstays such as Volkswagen, BMW, Mercedes-Benz, Ford Motor, as well as other industrial players like Airbus, ThyssenKrupp, Johnson&Johnson and Robert Bosch.

Editor: William Clegg

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Keywords:   Assets Acquisition,M&A,Automatic Welding, Industry Robot,R&D, German,NIMAK,Hagong Intelligent Robot