The Nanjing-based Estun Automation Company announced recently it would acquire 100% of Shanghai Prex MFG Co., Ltd.’s stock equity with 76 million RMB in cash. Shanghai Prex is a wholly-owned subsidiary of L.K. Group, which is a world leading die casting manufacturer.
Founded in Aug. 2002, Shanghai Prex is one of the earliest and comprehensive periphery automation equipment suppliers for die casting industry. Its products cover casting extractor robot, spraying robot, parting agent mixing transport facility, automatic spraying facility and other auxiliary equipment. It has offices in Chengdu,
Guangzhou and Tianjin.
It’s reported that L.K. Group promised to invest 108 million RMB to Shanghai Prex in the next three years. Financial statistics shows the total asset of Shanghai Prex was 38,436,300 Yuan and its net asset was 15,219,300 Yuan till Dec. 31, 2015. The revenue reached to 77,322,200 RMB in 2015.
By this acquisition, Shanghai Prex will establish cooperation with more and more domestic and overseas partners, which will also accelerate Estun’s robots application in the die casting industry.
Founded in 1993, Nanjing Estun is a leading manufacturer of core control parts for intelligent equipment and industry robots.