© JOT Automation Electronics Production | June 20, 2018
JOT Automation has a new Chinese owner
Suzhou Victory Precision Manufacture Co., Ltd., headquartered in Suzhou, China, has purchased the entire capital stock of JOT Automation Ltd., with Finnish family company Head Invest Ltd. as the main seller.
As some might remember, JOT signed a similar agreement with Chinese Wuxi Lead Intelligent Automation back in 2016. However the sale was not closed. Consequently, JOT Automation continued as a Finnish company with an expanded ownership base, part of the Head Invest Group owned by the family of JOT founder Veikko Lesonen. But now, a new owner has been found in Victory Precision. According to Petri Halonen, JOT Automation CEO, the additional engineering and production resources provided by Victory Precision will significantly help JOT to pursue the opportunities of the fast-developing market and modern technologies, a press release reads. "JOT Automation has established itself as a leader in process and test automation solutions for electronics industry and smart products. Together with Victory Precision, we form a unique combination of European technology know-how and unparalleled Chinese competitiveness and production scalability,” says Halonen. “JOT automation has proven that it has the engineering knowledge and production experience that success in China and globally requires. Thanks to the new ownership and structure, we are able to fulfil the evolving needs of our partners and customers even better,” says Mr. Gao, Chairman of Victory Precision, in the press release. JOT Automation will continue to operate as an independent entity, under its current name and brand. Petri Halonen emphasises that while the daily operations may seem business as usual, strong development will take place below the surface, taking the company forward. "Our ultimate goal is to provide the best possible service in this particular line of industry. Ability to react quickly and even predict the direction of development is essential. Thanks to joining forces with Victory Precision, JOT Automation has what it takes to win, and that is good news to both the company as well as to our customers and partners," explains Halonen.