KUKA expands China business
On March 21, 2018, the Executive Board of KUKA Aktiengesellschaft decided to combine its Chinese General Industry business of KUKA and the Chinese Swisslog business by setting up joint ventures with Midea Group companies.
21 March 2018
Zugspitzstrasse 140, 86165 Augsburg
- ISIN DE0006204407-
Listed on the following German stock exchanges:
Frankfurt am Main and Munich
Market segment: Prime Standard
Disclosure of Inside Information in accordance with Article 17 MAR
On March 21, 2018, the Executive Board of KUKA Aktiengesellschaft decided to combine its Chinese General Industry business of KUKA and the Chinese Swisslog business by setting up joint ventures with Midea Group companies. The respective shareholders of the joint venture companies will each have a stake of 50% in the joint venture companies. The Robotics joint venture will be controlled by KUKA. The Chinese Automotive business will fully remain with KUKA.
With these joint ventures the market penetration in China shall be significantly increased and the KUKA’s Chinese business shall be further expanded. This also relates to the setup of a new production site in the Shunde (China) Technology Park; in this site, also new products shall be developed and in more extension phases until 2024 up to 75,000 robot units per year (with the existing capacities this will total up to 100,000 robot units in China per year) shall be produced.
The Supervisory Board of KUKA Aktiengesellschaft approved on March 21, 2018 the founding of the joint venture companies and the investment in the Technology Park in Shunde.
Augsburg, March 21, 2018
The Executive Board