February 20, 2017 – Cayman Engley Industrial Co.,Ltd, together with 2 co-investors, acquired a majority stake of Kranendonk Beheersmaatschappij B.V. from Kranendonk Holding B.V..
Kranendonk Beheersmaatschappij B.V., as a long-term business partner of ABB, is a global market leader in providing non-repetitive robot welding, cutting and assembly solutions and equipment with universal applications in steel-related industries.
Cayman Engley is a renowned Chinese automobile supplier listed in Taiwan exchange with a current market capitalization of over USD 650 million and a total sales of approx. USD 500 million. The acquisition is a major building block of Cayman Engley’s strategy to expand its oversea business, to upgrade its automated production lines and to enter into automation industry.
Through this transaction, Kranendonk Beheersmaatschappij B.V. can penetrate into Chinese market with the support from new shareholders. In addition, the investors will also provide the company with strong financing capacities to expand its global business into next step.
The two co-investors successfully completed their exit from this project in 2018.
