# Biesse Group to sell Dongguan Korex Machinery in China

Biesse Group has agreed to sell its subsidiary Dongguan Korex Machinery Co. LTD in Dongguan, China, for CNY 183.5 million (EUR 22.5 million). The deal is expected to close by mid-March 2021.

- Type: Acquisition
- Announced: 2021-03-12
- Where: Dongguan, China, China
- Value: $28.2M (183.5M CNY)
- Status: announced
- Products: wood, glass, stone, plastic and metal processing technology
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Biesse Group](https://endata.com/companies/17410.md)
- [Dongguan Korex Machinery](https://endata.com/companies/53806.md) (target)

## Sources

- [lesprom.com](https://www.lesprom.com/en/news/Biesse_Group_to_sell_Dongguan_Korex_Machinery_in_China_97894/), 2021-03-12: "The Biesse Group has reached an agreement for the total sale of the company Dongguan Korex Machinery Co. LTD with registered office in Dongguan, China."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.