Smac , a company specializing in machine tool and robot automation solutions, is participating in the acquisition of Hyundai Wia's machine tool division and is jumping into the global machine tool market competition in earnest.
SMEC announced on the 19th that it acquired Hyundai Wia's machine tool division for approximately 340 billion won. This contract is being carried out jointly with buyout specialist private equity firm Rilson PE, and SMEC will invest 118.3 billion won to secure a 34.8% stake.
In particular, by securing active cooperation and support from Hyundai Wia in this deal, we plan to ensure a stable start for the new corporation. Based on Hyundai Wia’s business experience and operational know-how accumulated over several decades, active collaboration will be carried out for management stabilization and continuous growth.
Through this acquisition, SMAC plans to reorganize the industry landscape and accelerate its global market penetration together with the second largest machine tool company in Korea. Hyundai Wia’s machine tool division is evaluated as a core division with top-level technology in various industries including the automobile industry. When the cutting-edge technology of Hyundai Wia’s machine tool division is combined with SMAC’s precision processing technology, the strengths in the product portfolio, which range from high-end equipment to general-purpose equipment, are expected to be further strengthened.
An industry insider said, “Through this acquisition, we will gain an advantage in the competition for hegemony in the global machine tool market,” and predicted, “We will provide more solid support based on the business that Hyundai Wia has built up over a long period of time, and we will lead the market by diversifying the product portfolio and incorporating new technologies, and we expect to achieve explosive growth.”
Meanwhile, Smack achieved its best performance since its establishment this year through global market expansion and new technology development, and expects that this acquisition will serve as an opportunity to establish itself as a game changer in the global machine tool industry.
- See more related articles
You must be logged in to post a comment.