07.03.2018
MAX Automation SE DE000A2DA588
DGAP-News: MAX Automation SE takes an important step towards expansion in China
DGAP-News: MAX Automation SE / Key word(s): Takeover
MAX Automation SE takes an important step towards expansion in China
07.03.2018 / 08:51
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
MAX Automation SE takes an important step towards expansion in China
- Majority acquisition of Chinese engineering company Shanghai Cisens
Automation Co., Ltd. closed
- MAX Automation (Shanghai) Co., Ltd. supports the global automotive
industry in international project execution
Düsseldorf/Shanghai, March 7, 2018 - MAX Automation SE is driving expansion
in China. The high-tech engineering specialist closed its acquisition of a
majority stake in the operations of Chinese Shanghai Cisens Automation Co.,
Ltd. in late February 2018. In order to realize the transaction, Shanghai
Cisens Automation's operations were transformed into a new company, MAX
Automation (Shanghai) Co., Ltd. as part of an asset deal. MAX Automation
holds a 51% stake while founder and CEO Roger Lee holds 49%. There is the
option of gradually acquiring all remaining shares in the coming years. The
transaction volume is in the low double-digit million-euro range. The
acquisition agreed in August 2017 makes a significant step towards MAX
Automation establishing its own organization in China.
MAX Automation (Shanghai) Co., Ltd. is an industrial automation specialist.
Its largest customer group by far is the automotive industry. The company
has long-standing relationships with Chinese suppliers and operates in
Shanghai and Changchun with around 200 employees at the centers of the
Chinese automotive industry. This share now grants MAX Automation its own
high-tech capacities as well as production and service locations in China.
The strategic goal is to increase local value while handling customer
projects. This investment also fosters synergies for existing activities of
the MAX Group companies in the country.
Daniel Fink, CEO of MAX Automation SE: "China is the largest automotive
market in the world and has a leading position in electric vehicle sales.
This acquisition puts us now in a position to manufacture equipment for
vehicle production of the same type in Germany, the US and China, so that we
can comprehensively support international customers in the world's most
important markets. At the same time, we are resolutely pursuing the goal of
further expanding our presence in the Chinese market in line with our 2021
growth strategy."
Contact:
Frank Elsner / Frank Paschen
Frank Elsner Kommunikation für Unternehmen GmbH
Phone: +49 - 5404 - 91 92 0
Fax: +49 - 5404 - 91 92 29
About MAX Automation SE
MAX Automation SE (Securities Identification Number: A2DA58) with its
headquarters in Düsseldorf is an internationally active high-tech mechanical
engineering Group and a leading full-service supplier of integrated and
sophisticated system and component solutions. Its operational business is
divided into two segments. In the Industrial Automation segment, the Group
is considered to be a trendsetter in the development and manufacturing of
integrated and proprietary solutions for use in manufacturing and assembly
in the automotive industry, medical technology, packaging machines and the
electronics industry due to its comprehensive technological know-how. In the
Environmental Technology segment, MAX Automation develops and installs
innovative systems for use by the recycling, energy and raw materials
industries.
www.maxautomation.com
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07.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: MAX Automation SE
Breite Straße 29-31
40213 Düsseldorf
Germany
Phone: +49 (0)211 90991-0
Fax: +49 (0)211 90991-11
E-mail: [email protected]
Internet: www.maxautomation.com
ISIN: DE000A2DA588
WKN: A2DA58
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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661221 07.03.2018
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