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China’s Estun Automation acquires Germany’s Carl Cloos Welding Technology
CLOOS joins forces with automation specialist Estun Automation Co. Ltd. By establishing a partnership with the Estun Group, CLOOS has found the perfect strategic partner for the expansion of its welding and robotics portfolio, thus ensuring sustainable growth. With the acquisition of CLOOS, the Estun Group aspires to become a world-leading robotics company.
Estun’s total sales in 2018 were approximately €184 million ($203 million), less than what it paid for Cloos, noted Georg Stieler, an expert in Chinese robotics investments, in Automations Praxis. The company did have help from CRCI and some experience with foreign acquisitions, he said. “In 2016, the company acquired 20% of Euclid Labs in Italy, [and] in 2017, they acquired TrioMotion in the U.K. and MAI in Germany,” he added. “All of these, however, were much smaller transactions.” Euclid Labs s.r.l. will have other strategic partners and will eventually be listed as an independent company.