Strategic alliance follows acquisition.
China appliance maker is moving into the robot market. The company has just announced a strategic alliance with Servotronix, an Israeli motion control firm. It follows Midea’s acquisition last year of one of the world’s largest robotics companies, the German group Kuka.
Servotronix is a leader in advanced motion control solutions and automation systems. Midea chairman, Paul Fang said the strategic alliance represented another milestone in Midea’s expansion into industrial automation and intelligent manufacturing. “By leveraging each other’s complimentary capabilities and resources, the two companies will join forces to develop exciting new products and explore growth opportunities going forward,” Fang said.
Servotronix founder and CEO, Dr IIan Cohen said the alliance will provide Servotronix with significant leverage for its global operations, putting the Servotronix into a leadership position in the field of robotics, control and automation. “China is a major market in this field,” he said.