Rockwell to acquire Chinese firm
Rockwell to acquire Chinese company
Milwaukee-based Rockwell Automation Inc. has reached an agreement to acquire substantially all of the assets and business of Xi’An Hengsheng Science & Technology Company Limited, a privately held engineering firm in China.
Xi’An Hengsheng Science & Technology delivers automation solutions to the electrical power and other heavy process industries in China. Financial terms of the acquisition were not disclosed.
Located in Xi’An, China, Xi’An Hengsheng Science & Technology Company Limited serves customers in the power, petrochemical, coal mining, chemical and oil markets. The company conducts much of its business in the fast-growing regions of middle and western China with an installed base of approximately 300 customers.
"This acquisition is a vital step in continuing to provide world-class design and delivery service to our customers throughout China," said Tom O’Reilly, managing director, Rockwell Automation, Greater China. "It is also another example of how Rockwell Automation is helping China save energy, reduce emissions, protect the environment and achieve a sustainable economy."
Xi’An Hengsheng Science & Technology Company co-founder Han Liqing, said, "The relationship with Rockwell Automation will strongly enhance our ability to deliver automation solutions and technology to heavy process industries throughout China. We have excellent long-term relationships with our customers and the western China business community. By combining our local knowledge with the global technical expertise, broad product portfolio, and financial strength of Rockwell Automation, we will increase our ability to serve customers."
The acquisition is expected to be completed during the first calendar quarter of 2009.