Chinese fund buys Italian robotics-maker Gimatic
Updated: 2016-06-13 14:12
(chinadaily.com.cn)
|
|||||||||
A Chinese man works amid orange robot arms at a factory in Shenzhen, South China's Guangdong province, Aug 21, 2015. [Photo/IC] |
Agic Capital, which focuses on European industrial technical investment, was founded last year by Henry Cai, a former Deutsche Bank senior executive.
Gimatic, founded in 1985, is an Italian supplier of robotic end-of-arm tools. The company has seen its annual sales grow by more than 20 percent over the past three years, with four fifths of its business coming from Europe. Asia, although accounting for less than a tenth of sales, is seen as the market with the biggest potential.
In January, Agic Capital, together with China National Chemical Corp and Chinese state fund Guoxin International Investment Corp, purchased Germany's KraussMaffei Group for 925 million euros.
KraussMaffei, an equipment manufacturer that processes plastics and rubber, is one of Germany's largest machinery suppliers. The deal, at the time, ranked as the biggest outbound investment from China into Germany, according to data provider Dealogic.
China is speeding up investment in industrial robots.
Last month, China's biggest maker of home appliances Midea Group made an offer to buy German factory robot manufacturer Kuka AG. The 115 euro-per-share offer valued Kuka at around 4.5 billion euros and Midea said it was seeking to become the largest shareholder by raising its stake beyond 30 percent.
Jin Xing, a home appliance analyst at CITIC Securities, said in a report the robotics industry was hot in China, with rapid growth and huge development room.
According to the Frankfurt-based International Federation of Robotics (IFR), annual robot sales, between 2005 and 2015, rose 9 percent worldwide, while China experienced a growth of 25 percent.
Related Stories
Midea Group to buy significant stake in KUKA AG 2016-05-18 16:55
Chinese private company purchases US industrial robot manufacturer 2016-04-19 15:13
China aims to boost robot output 2016-04-27 03:11
Booming Chinese robotics industry a good sign 2016-05-10 13:24
Today's Top News
Fifty killed in Florida shooting, worst in US history
Euro 2016 violence spreads to second French city
Former Italian Berlusconi to undergo surgery
The can-do generation to the fore
Riding the wave
China lists first sovereign offshore RMB bond on LSE
British PM denounces Brexit's 'complete untruths'
47% of European businesses would expand in China
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Hollywood snaps up rock star's dog film |
Chinese people welcome dispossessed |
The can-do generation to the fore |
Riding the wave |
Leisure giants buoy cruise market |
She followed her heart |