British media said that at the Hannover Industrial Fair, the world's largest industrial fair held this year, a robot that would pour beer, brew coffee, exquisite elegance and super sensitivity became one of the participating stars. It was called " Intelligent Industrial Assistant." On the opening day of the fair, German Chancellor Angela Merkel and US President Barack Obama were very curious about it. Merkel asked: "Does it squeeze lemon juice?"
According to the British "Financial Times" website reported on August 9, "smart industrial assistant" is produced by the most innovative engineering company in Germany, KUKA Group, but it will not be completely owned by Germany in the future. Less than a month after the expo, the Chinese home appliance manufacturer Midea Group bought KUKA for 4.5 billion euros, which is the biggest deal for China to acquire German companies.
According to the report, the idea that Chinese companies hold shares in a prominent German innovation company is the cause of widespread anxiety in Germany. After the Midea Group announced the bidding for the bid, the contest began immediately.
"The KUKA is a successful company in a strategic department that is critical to the future of industrial digitalization in Europe," said the EU's member of the Digital Economy Committee and a political ally close to Ms. Merkel. "Kuka is a successful company." European companies participated in the bidding, but no company stood up. Midea Group announced on the 8th that it now holds 94.55% of the shares of the KUKA Group.
According to the report, even before the acquisition of KUKA, Germany has become the preferred destination for Chinese investment in Europe. According to the statistics of professional service company Ernst & Young, in the first half of this year, the total value of announced M&A transactions reached US$10.8 billion, which is higher than the previous years. Ernst & Young said that in the first half of this year, Chinese investors acquired 37 German companies, and only 39 companies were acquired in 2015.
Gu Yanmin, vice president of Midea Group, said: "In China, we are very respectful of Germany's excellent manufacturing, their craftsmanship, their technology of excellence. German brands are favored, and our group is the same."
Midea Group said it found an opportunity to expand the KUKA brand's share of the Chinese market – most Chinese factories have not yet automated: in 2014, China had only 36 robots per 10,000 manufacturing workers. In comparison, the average robotic ratio in European factories is 85 and in the Americas is 79.
According to the report, the target range is very broad. Last month, Osram, one of the most respected brands in the German business community, sold the lighting company to a consortium led by China's LED lighting specialist Mulinsen Co., Ltd. for 400 million euros. In February of this year, Beijing Holding Group Co., Ltd. acquired the German waste disposal company, the waste energy company, for about 1.44 billion euros. Also this year, China National Chemical Corporation agreed to acquire the German machinery manufacturer KraussMaffei Group for 925 million euros.
Martin Reitz, CEO of Rothschild, Germany, said that 35% to 40% of Germany's investment in the first half of this year came from China. He said: "At the moment, we have several transactions involving China."
He also said that China's investment focus shifted to Germany, "reflecting that China's strategic plan pays more attention to innovation and high-tech brands, with the aim of transforming into a more high-end industrial society."
According to the report, German technology companies are the focus of attention, but China's investment network has expanded to include everything from pharmaceuticals to biotechnology companies to clinics and nursing centers. At the same time, Sun Yi, a German partner at Ernst & Young, said, “Since the Brexit vote, several senior Chinese managers are considering moving their European headquarters from the UK to Germany.â€
In view of the core position of the KUKA Group in the German “Industry 4.0†program, Midea Group announced on May 18 that the acquisition of the KUKA transaction sounded the alarm in the German political elite. KUKA's most famous products are large industrial robots for the manufacture of cars and airplanes. However, it is also developing smarter machines that can deliver and receive cloud data and connect to the much-popular IoT.
However, Roland Klose, a business professor and director of the DSW Independent Shareholders Association, said that China’s possession of KUKA shares “may be a problem for customers who want to enter cloud data. Some people are worried that if the company’s owner is Chinese, sensitive and confidential industries Data and company data may be insecure." This concern is not limited to Germany. Last month, British Prime Minister Teresa May postponed the final approval for the investment in the Hinckley Point nuclear power plant.
Reitz said that when you transfer a controlling stake in a high-tech company like KUKA to a Chinese company, it is "reasonable" to carefully consider what might happen. He said: "The more idolous a company is, the more it is necessary to conduct such a debate. However, if you really want to become a strategic partner of China, you can't try to stop these transactions."
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