(Yicai Global) May 30 -- Leading Chinese LED glass substrate producer Dongxu Optoelectronic Technology aims to bolster its presence in the smart manufacturing sector by taking a majority stake in domestic industrial robot maker Sanbot Innovation Intelligence.
Dongxu Optoelectronic will pay CNY27 million (USD4.2 million) to raise its stake in Sanbot to 67 percent from 37 percent at present, the Beijing-based firm said in a statement, and that it will also boost the firm’s capital by CNY124 million.
The acquisition of the Shenzhen-based robot maker represents an important extension of the company's high-end intelligent manufacturing business and the company is optimistic about building new profit growth points through products using artificial intelligence.
The investment will also assist the company in optimizing its intelligent manufacturing capabilities at its existing plants through the use of Sanbot Innovation robots.
Editor: William Clegg