KUKA sends letter of intent to acquire majority shares in Reis Robotics
KUKA proposes to purchase a 51-percent stake in Reis Robotics with an option to acquire additional shares. The Reis family is currently the company's sole owner and will retain a 49-percent share upon deal closing. The parties have agreed not to disclose other details about the transaction, which is subject to approval by the antitrust authorities.
Reis Group Holding GmbH generates revenues of about EUR 130 million with 1,300 employees. The company's major entity, Reis GmbH and Co. KG Maschinenfabrik, employs about 850 people and is based in Obernburg near Frankfurt am Main. The company's second-largest facility, in Kunshan China, has about 200 employees. In total, the Group has twenty locations worldwide. Reis is a systems integrator, as well as developer and maker of industrial robots and robot controllers for a wide range of market sectors. The company applies robots and systems in numerous industrial processes such as welding, cutting and laser machining, as well making castings and plastic components.
Dr. Till Reuter, CEO of KUKA AG, explains: "Reis is an excellent fit for KUKA's long term strategy. We want to penetrate new general industry sectors together and above all, expand our presence in China. We also see considerable potential for joint product development."
Dr. Eberhard Kroth, spokesman of Reis Group Holding GmbH says: "In KUKA, we have found the right partner to further strengthen the outstanding market position of our family enterprise. Reis stands for innovation strength and outstanding product quality – our technological standards and customer commitment tie us to KUKA."