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Fosun agrees to acquire German production systems firm FFT

Chinese conglomerate Fosun International has agreed to acquire Germany-based automated and flexible production systems provider FFT Group.

Fosun agrees to acquire German production systems firm FFT
Fosun International is a family-focused multinational company that is listed on the main board of the Hong Kong Stock Exchange since 2017, with total assets over US$ 81 billion as of 31 December 2017. Other companies operating under the Fosun network include Club Med & Lanvin in France, Fidelidade Insurance in Portugal, as well as Hauck & Aufhäuser and the Koller Group in Germany.

Founded in 1974 and headquartered in Fulda, Germany, FFT provides complete vehicles and production plants for first-line original equipment makers (OEMs) in Germany, the USA, Japan, China and other countries. It assumes the responsibility for the implementation of complete production plants, such as body-in-white production and assembly lines. Having been separated from EDAG in 2011 to be a direct subsidiary to ATON has allowed FFT to become a clearly defined pure-play business as well as helped to reduce complexity and establish an independent platform.  In 2017, FFT recorded revenues of over €850 million ($984 million) and employed over 2,600 people.

With the acquisition of FFT, Fosun is looking to further expand its industrial capabilities and exposure. Fosun aims to leverage its profound knowledge of the Chinese market and excellent global network to help FFT grow its Chinese as well as international footprint.

Guo Guangchang, Chairman of Fosun International Limited:

“We are pleased to have FFT, a leading provider of industrial automation solutions to some of the world’s largest makers, join the Fosun family. Creating better products and services to customers through intelligent manufacturing and technology innovation is a key part of Fosun’s strategy. In the future, we will work closely with FFT, offering Fosun’s world-class “makers” resources, and access to China’s booming market. Furthermore, we will empower each other through the development of FFT’s own growth plans as well as supporting Fosun’s increasing role in the evolution of global smart manufacturing.”

Manfred Hahl, CEO of FFT:

“After years of significant growth and the expansion of our geographical footprint, we are very excited to start the next chapter by joining Fosun. For us, this is a logical step to expand our global profile and strengthen our presence in China with the support of their local network and knowledge. China, as one of the largest markets in the world, offers significant growth potential in the automotive as well as many other industries and applications. The partnership with Fosun provides us with access to a worldwide network. Our team is convinced that we will continue to establish FFT as a leading turn-key partner under our new owner.”

The completion of this transaction is subject to regulatory approval.

Companies: FFT Produktionssysteme GmbH & Co. KG, fosun

Countries: China, France, Germany, Japan

Industries: Automotive & Road Transportation

Terms: Asia-Pacific, Business

Via
This article has been edited by Basalt.Today
Source
This article has been written on JEC Composites Magazine
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