Jiangsu Company Eyes German Industrial Firm FFT For $700M USD

 

Via kitco.com

HONG KONG, Oct 12 (Reuters) – Chinese firms including high-end equipment maker Jiangsu Hagong Intelligent Robot Co plan to bid for German industrial company FFT, likely to be valued at up to $712 million, two people familiar with the matter said.

FFT, a maker of manufacturing facilities for car makers and owned by private equity investor Aton, is expected to be valued at around 8-10 times its expected 2017 core earnings of about 60 million euros ($71.21 million), another person said.

Chinese interest in FFT comes as the world’s second-largest economy strives to boost locally-made products as part of a broad “Made in China 2025” plan, in ten sectors ranging from robotics to biopharmaceuticals.

 

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