Reis enters into Venture with Yawei
Obernburg am Main/Yangzhou, June 24, 2014 – The Reis GmbH & Co. KG Maschinenfabrik, a subsidiary of KUKA AG concludes a joint venture with Jiangsu Yawei Machine Tool Co., Ltd. in China. Due to the merger Yawei receives product licenses of Reis linear robots for the Asian market.
24 June 2014
On 24 June 2014 the two companies agreed on a joint venture under the name Yawei Reis Robot Manufacturing (Jiangsu) Co., Ltd., in which Reis holds 49% and Yawei 51%. The contract has been concluded for a period of ten years. Company’s headquarters will be the location of Yawei in the Chinese city of Yangzhou. The Chinese partner company Yawei is one of the leading Chinese companies specialized in manufacturing of machines for sheet metal working and has been publicly traded since 2011.
For KUKA, the joint venture represents a further access to the Asian market in which the Group intends to grow increasingly. The cooperation of Reis and Yawei in the linear robot sector also supports the distribution of KUKA products in the metal processing industry, in which Yawei has a strong position. Both Joint Venture parties can use their market presence for sales. Dr. Till Reuter, CEO of KUKA Aktiengesellschaft, underlines the importance of the cooperation: "The joint venture will help to place our products in the growing Chinese automation market. Furthermore, it is strengthening the brand of Reis in China.“