Narrative
Full Description
Project narrative
In 2010, China Development Bank (CDB) provided an €80 million EUR loan to Jiangsu Jinsheng Industry Co., Ltd. to facilitate its €100 million EUR acquisition of a 50% equity stake in EMAG Holding GmbH. As part of the agreement, both companies agreed to jointly set up EMAG (China) Machinery Co. Ltd. with a registered capital of €60 million EUR, aiming to build a manufacturing center to serve the Asia-Pacific market. The borrowing terms of the loan are unknown. On January 7, 2011, Jinsheng Industrial Co., Ltd. and EMAG Group formally signed an equity acquisition contract in Berlin. CDB also signed the agreement.
Staff comments
1. EMAG Holding GmbH is one of the major manufacturers of specialized machine tools for the production of components in Europe. It is a German manufacturer of CNC machine tools, specializing in turning, drilling, milling, gear cutting, grinding, and laser welding. It offers solutions for various industries including automotive, oil field, power generation, and aerospace. EMAG Holding GmbH links pick-up machine technology with highly individual robot solutions designed within the requirements of the workpiece and the production process. The company's headquarters are located in Salach, Baden-Württemberg, Germany. 2. The Chinese project title is 埃马克控股有限公司50%的股权项目.