21.03.2018
![]()
DGAP-Adhoc: KUKA Aktiengesellschaft: KUKA expands China business
DGAP-Ad-hoc: KUKA Aktiengesellschaft / Key word(s): Joint Venture
KUKA Aktiengesellschaft: KUKA expands China business
21-March-2018 / 18:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
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
KUKA Aktiengesellschaft
The Executive Board
Contact:
Ms. Kerstin Heinrich
Phone.: +49 (0)821 7975-481
Fax: +49 (0)821 7975-213
E-Mail: [email protected]
---------------------------------------------------------------------------
21-March-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: KUKA Aktiengesellschaft
Postfach 43 12 69
86072 Augsburg
Germany
Phone: +49 (0)821 797 - 0
Fax: +49 (0)821 7975 - 333
E-mail: [email protected]
Internet: www.kuka.com
ISIN: DE0006204407
WKN: 620440
Listed: Regulated Market in Frankfurt (Prime Standard), Munich
End of Announcement DGAP News Service
---------------------------------------------------------------------------
667145 21-March-2018 CET/CEST
|