(Yicai Global) May 30 -- Fosun International has completed its acquisition of German automated solutions provider FFT from private investment firm Aton, the Chinese conglomerate said in a statement today, without specifying the amount paid.

The Shanghai-based company won regulatory approval to acquire FFT from the European Commission last August.

Set up in 1974, Fulda-based FFT is an original equipment maker that provides flexible automated turnkey solutions, customized engineering designs and various smart factory solutions for global first-tier carmakers. It also serves manufacturers of auto parts and components, major appliances, new energy batteries and laser radars.

"Creating better products and services to customers through intelligent manufacturing and technology innovation is a key part of Fosun's global strategy," Chairman Guo Guangchang said in the statement. "In the future, we will help each other grow and enhance Fosun's increasing role in the evolution of global smart manufacturing."

FFT has more than 2,800 employees and its revenue exceeded EUR750 million (USD840 million) last year, when the number of its newly added contracts in the Chinese market nearly doubled.

"FFT is building on Fosun's support to gain further market access in China both in the automotive sector and in the non-automotive industries," FFT Group Chief Executive Manfred Hahl said in the press release.

Fosun will tap FFT's automation technologies to improve its product quality, reduce costs, raise production efficiency and lower energy consumption, so as to facilitate the sector's upgrade, it said, explaining the reasons behind the acquisition.

It added that using FFT's technologies will also empower Fosun's affiliates, including Nanjing-based Nangang Iron and Steel United and Tianjin-based Jeve, to improve their innovative capabilities in smart manufacturing.

Shares of Fosun International [HKG:0656] gained 0.4 percent today to close at HKD10.18 (USD1.30). The benchmark Hang Seng Index fell 0.4 percent.