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KUKA AG M&A Activity 2018
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M&A Activity
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Ad-hoc | 21 March 2018 18:59
KUKA Aktiengesellschaft: KUKA expands China business
KUKA Aktiengesellschaft / Key word(s): Joint Venture
KUKA Aktiengesellschaft: KUKA expands China business
21-March-2018 / 18:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
On March 21, 2018, the Executive Board of KUKA Aktiengesellschaft decided to combine its Chinese General Industry business of KUKA and the Chinese Swisslog business by setting up joint ventures with Midea Group companies. The respective shareholders of the joint venture companies will each have a stake of 50% in the joint venture companies. The Robotics joint venture will be controlled by KUKA. The Chinese Automotive business will fully remain with KUKA.
With these joint ventures the market penetration in China shall be significantly increased and the KUKA’s Chinese business shall be further expanded. This also relates to the setup of a new production site in the Shunde (China) Technology Park; in this site, also new products shall be developed and in more extension phases until 2024 up to 75,000 robot units per year (with the existing capacities this will total up to 100,000 robot units in China per year) shall be produced.
The Supervisory Board of KUKA Aktiengesellschaft approved on March 21, 2018 the founding of the joint venture companies and the investment in the Technology Park in Shunde.
Augsburg, March 21, 2018
KUKA Aktiengesellschaft
The Executive Board
Contact:
Ms. Kerstin Heinrich
Phone.: +49 (0)821 7975-481
Fax: +49 (0)821 7975-213
E-Mail: [email protected]
21-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | KUKA Aktiengesellschaft |
| Postfach 43 12 69 | |
| 86072 Augsburg | |
| Germany | |
| Phone: | +49 (0)821 797 – 0 |
| Fax: | +49 (0)821 7975 – 333 |
| E-mail: | [email protected] |
| Internet: | www.kuka.com |
| ISIN: | DE0006204407 |
| WKN: | 620440 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich |
| End of Announcement | DGAP News Service |