[Global Times’s special correspondent in Germany, Aoki] “Berlin gave green light to Chinese companies to acquire high-tech companies.” Germany’s “Frankfurter Zeitung” reported on the 25th that Jörg Hüsken, chairman of the board of directors of German aerospace supplier Kotesa (COTESA) On the 24th, it was confirmed that the German Ministry of Economic Affairs had agreed to acquire Antai Technology Co., Ltd., a subsidiary of China Steel Scientific Research Group Co., Ltd. (CISRI). China Custom CNC Work Manufacturing Services Suppliers
Headquartered in Saxony, eastern Germany, Kotza is a leading manufacturer of high-quality carbon fiber composite parts for aerospace and automotive engineering. Last September, the company signed an acquisition contract with Antai Technology. However, the German Ministry of Economic Affairs began investigating the deal late last year because the transaction involved sensitive core technologies. Although the Kotsa company with an annual turnover of approximately 65 million euros is only a medium-sized company, its products are widely used in the latest models of Airbus and Boeing, and are widely used in the automotive and aerospace fields, and even provided to the armament sector.
Cotesa has approximately 750 employees and revenue in 2017 is expected to reach 65 million euros. Cotesa produces composite fiber components for Airbus long-haul aircraft and Boeing helicopters. Jörg Hüsken, the company’s founder and managing director, told Handelsblatt that he had sought investors to finance the company’s expansion, but “the Chinese are the only ones to recognize us Potential people.” China Custom CNC Work Manufacturing Services Suppliers
▲Cotesa’s production line (fig:fraunhofer)
According to the “Deutsche Kosto”, the amount of the acquisition is about 100 to 200 million euros. The German government had worried that the company’s technology was controlled by the Chinese people. The new material field is one of the ten key areas of the “Made in China 2025” strategy. The main products of CISRI are sold to China Comac.
Through this acquisition, Kottsa expects to obtain Chinese funds. At the same time, the company also hopes to increase international expansion through the support of Chinese investors, especially expanding its sales and production capabilities in China. China Custom CNC Work Manufacturing Services Suppliers
German Financial Network reported that this is the first case of a core technology acquisition approved by the German Ministry of Economic Affairs after Chinese investors tightened foreign trade regulations in July last year. In 2016, after the acquisition of KUKA, a German robot manufacturer, by the China United Group, the German government raised concerns about Chinese companies acquiring German core technology companies. According to the new regulations, not only military enterprises, high-tech companies that master core technologies, but also key infrastructure will also be subject to review by the German government. The review time increased from the original two months to four months.
Analysts believe that the reason why the German government approved the acquisition was because the core technology developed by Kottha did not endanger German national security. According to a recent research by KPMG, an audit firm, German companies acquired by Chinese companies have barely been affected by new owners and are still able to independently develop their existing business models. China Custom CNC Work Manufacturing Services Suppliers