Jiangsu Buyer Eyes German-based FFT

 

Via globaltimes.cn

Chinese companies 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, Reuters reported.

China’s State-owned power company Shanghai Electric and Asian-European private equity firm AGIC Capital had also expressed interest earlier in the process, according to the media report.

Chinese interest in FFT comes as the world’s second-largest economy strives to boost domestic products as part of a broad “Made in China 2025” plan.

Jiangsu Hagong is among a growing number of Chinese companies seeking access to advanced German industrial technology as China pushes to bolster its high-end manufacturing.

 

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