MAX Automation SE takes an important step towards expansion in China

DGAP-News: MAX Automation SE / Key word(s): Takeover

07.03.2018 / 08:51
The issuer is solely responsible for the content of this announcement.



MAX Automation SE takes an important step towards expansion in China

- Majority acquisition of Chinese engineering company Shanghai Cisens Automation Co., Ltd. closed

- MAX Automation (Shanghai) Co., Ltd. supports the global automotive industry in international project execution

Düsseldorf/Shanghai, March 7, 2018 - MAX Automation SE is driving expansion in China. The high-tech engineering specialist closed its acquisition of a majority stake in the operations of Chinese Shanghai Cisens Automation Co., Ltd. in late February 2018. In order to realize 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. The transaction volume is in the low double-digit million-euro range. The acquisition agreed in August 2017 makes a significant step towards MAX Automation establishing its own organization in China.

MAX Automation (Shanghai) Co., Ltd. is an industrial automation specialist. Its largest customer group by far is the automotive industry. The company has long-standing relationships with Chinese suppliers and operates in Shanghai and Changchun with around 200 employees at the centers of the Chinese 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. This investment also fosters synergies for existing activities of the MAX Group companies in the country.

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."

Frank Elsner / Frank Paschen
Frank Elsner Kommunikation für Unternehmen GmbH
Phone: +49 - 5404 - 91 92 0
Fax: +49 - 5404 - 91 92 29

About MAX Automation SE
MAX Automation SE (Securities Identification Number: A2DA58) with its headquarters in Düsseldorf is an internationally active high-tech mechanical engineering Group and a leading full-service supplier of integrated and sophisticated system and component solutions. Its operational business is divided into two segments. In the Industrial Automation segment, the Group is considered to be a trendsetter in the development and manufacturing of integrated and proprietary solutions for use in manufacturing and assembly in the automotive industry, medical technology, packaging machines and the electronics industry due to its comprehensive technological know-how. In the Environmental Technology segment, MAX Automation develops and installs innovative systems for use by the recycling, energy and raw materials industries.

07.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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