© Max Automation - For illustrative purposes only Electronics Production | March 08, 2018
Max Automation expands in China
The high-tech engineering specialist says it has closed its acquisition of a majority stake in the operations of Chinese Shanghai Cisens Automation Co., Ltd.
In order to realise 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, a press release reads. While the price of the transaction has not been made official, it is said to be is in the low double-digit million-euro range. The acquisition agreed in August 2017 is a significant step towards MAX Automation establishing its own organisation in China. MAX Automation (Shanghai) Co., Ltd. is an industrial automation specialist. Its largest customer group by far is the 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. 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.”