Fosun Completes the Acquisition of Automation Solutions Provider FFT Group
<<May 30 2019, Shanghai, Hong Kong>> Fosun International Limited (SEHK stock code: 00656) (“Fosun International”), one of the world’s leading family-focused multinational companies, announced today the completion of the acquisition of FFT GmbH & Co. KGaA (“FFT”), the global leading provider of automated and flexible turnkey production systems. FFT will be acquired from ATON GmbH, a German family-owned private investment company, through the funds managed by the subsidiaries of Fosun International.
Founded in 1974 and headquartered in Fulda, Germany, FFT provides flexible automation turnkey solutions, customized engineering designs, and various smart factory solutions for renowned first-line original equipment makers (“OEMs”) globally. FFT services some of the world’s largest manufacturers of automobiles, white goods, and emerging industries such as new energy batteries, laser radars, light weight framing stations and the aluminum industry. In 2018, FFT recorded revenues of over EUR750 million, including a doubling of contracts with the Chinese market and employed over 2,800 people.
Fosun will take full advantage of China's rapid automation opportunities in sectors, leveraging FFT's world-leading automation technology to enhance product quality, reduce costs, improve production and energy consumption efficiency and etc., thereby promoting industry upgrades while helping Fosun portfolio companies, such as Nanjing Nangang Iron & Steel United and JEVE, boost their innovative capabilities in smart manufacturing. Fosun will also enable FFT to access its worldwide network and China’s booming markets more efficiently and effectively.
Mr. Guo Guangchang, Chairman of Fosun International, says: “We are thrilled to have FFT join the Fosun family. Creating better products and services to customers through intelligent manufacturing and technology innovation is a key part of Fosun’s global strategy. In the future, we will help each other grow and enhance Fosun’s increasing role in the evolution of global smart manufacturing.”
Mr. Manfred Hahl, CEO of FFT Group says, “Now that the closing process has been completed, the management of FFT and Fosun will work on the further alignment and development of the FFT Group. FFT is building on Fosun's support to gain further market access in China both in the automotive sector and in the non-automotive industries. ”
Fosun was founded in 1992. Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656.HK) since 2007, with total assets over RMB638.8 billion (c.US$93.1 billion) as of 31 December 2018. With its roots in China, and through technology and innovation, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world. Fosun International ranks No.416 on the 2018 Forbes Global 2000 List.
FFT Group with its holding company FFT GmbH & Co. KGaA is a global provider of automated and flexible production concepts. As a turnkey partner for manufacturers and tier 1 suppliers of the automotive industry as well as for other non-automotive sectors, FFT assumes the responsibility for the implementation of complete production plants (body-in-white production and assembly lines). With more than 2,800 employees, the Group achieved gross revenue over EUR750 million in the financial year 2018.
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