Siasun buys S Korea asset

Updated 2018-01-23 11:23:02

Siasun Robot and Automation Co has moved to acquire a major stake in the automation unit of South Korea's Shingsung E&G Co, media reports said Monday.

An investment unit controlled by Siasun, which is based in Shenyang, capital of Northeast China's Liaoning Province, will pay 640 million yuan (.78 million) for an 80 percent stake in Shingsung's automation unit, robot industry news site reported.

The Shingsung unit makes process automation equipment, including panel display, semiconductor and factory automation systems.

A Siasun spokesperson said the deal would help the company's expansion in the semiconductor, panel display and related sectors, the report said.

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