. 24/7 Space News .
ROBO SPACE
Germany says not blocking Chinese bid for robotics firm
by Staff Writers
Berlin (AFP) June 3, 2016


Berlin on Friday denied blocking a Chinese takeover bid for German industrial robotics supplier Kuka, ahead of Chancellor Angela Merkel's visit to China.

Economy Minister Sigmar Gabriel "is not trying to get a consortium to make an offer that is competitive" to that of the Chinese group Midea, a spokesman said.

"This is a company decision, the government is not actively implicated," he added.

Chinese appliance giant Midea -- best known for its washing machines and air conditioners -- last month launched a takeover offer for Kuka.

It is seeking at least a 30 percent stake in a deal that values Kuka at 4.6 billion euros ($5.2 billion). Midea already holds a 13.5 percent stake in Kuka.

But German media reported that top officials in Brussels and Berlin are against the takeover bid, and are seeking an European counter-offer.

Gabriel, who is also Germany's vice chancellor, had also voiced concern about the proposed deal at a cabinet meeting last week, the Frankfurter Allgemeine Zeitung had reported.

Kuka, based in the southern German city of Augsburg, describes itself as one of the world's leading manufacturers of industrial robots and automated systems for manufacturing.

Midea is a leading consumer appliances maker as well as China's biggest producer of heating, ventilation and air-conditioning systems. Its global turnover was more than $22 billion last year, according to its website.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All about the robots on Earth and beyond!






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
ROBO SPACE
RE2 Robotics contracted to support USAF airfield damage repair program
Pittsburgh (UPI) May 25, 2016
RE2 Robotics is to provide manipulation and ground robotics expertise for the U.S. Air Force's Rapid Airfield Damage Repair program. The services come under a three-year $3.3 million subcontract from a division of Applied Research Associates Inc., located at Tyndall AFB in Panama City, Florida. "It is highly likely, if an airfield is attacked, that unexploded ordnance, debris, an ... read more


ROBO SPACE
Airbus Defence and Space to guide lunar lander to the Moon

Fifty Years of Moon Dust

A new, water-logged history of the Moon

Russian Firm Develops Project of Reusable Spacecraft for Lunar Missions

ROBO SPACE
SpaceX could send people to Mars by 2024, Elon Musk says

Red and Golden Planets at Opposition

Opportunity investigating soil exposed by rover wheel

Mars makes closest approach to Earth in 11 years

ROBO SPACE
India Presses Ahead With Space Ambitions

Fun LoL to Teach Machines How to Learn More Efficiently

International Partners Provide Science Satellites for first SLS mission

'Metabolomics: You Are What You Eat' video

ROBO SPACE
Bolivia to pay back loan to China for Tupac Katari satellite

China plans 5 new space science satellites

NASA Chief: Congress Should Revise US-China Space Cooperation Law

Chine's satellite industry eyes global satellite market

ROBO SPACE
BEAM Leak Checks Before Crew Enters Next Week

HERA Mission 10 Crew to "Splashdown" on Wednesday

One Carbon Metabolism on the Space Station

Airbus DS and ESA launch external commercial payload platform for the ISS

ROBO SPACE
United Launch Alliance gets $138 million Atlas V contract

EchoStar XVIII and BRIsat are installed on Arianespace's Ariane 5

SpaceX makes fourth successful rocket landing

Arianespace to supply payload dispenser systems for OneWeb constellation

ROBO SPACE
Astronomers find giant planet around very young star

Planet 1,200 Light-Years Away Is Good Prospect for a Habitable World

Kepler-223 System Offers Clues to Planetary Migration

Star Has Four Mini-Neptunes Orbiting in Lock Step

ROBO SPACE
Scientists test world's most intense gamma radiation source

Calculating the mechanics of a rough sphere

Microsoft wants Windows to open into mixed reality

Believe the hype? How virtual reality could change your life









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.