# Semcorp and Victory Precision form JV to acquire assets for CNY 771M

Semcorp (Enjie) and Victory Precision signed an agreement to form a joint venture that will acquire 100% of Suzhou Fuqiang Technology and JOT Automation Ltd for a total consideration of CNY 771 million. Semcorp and its subsidiary will hold 10% of the JV, with the rest held by Semcorp's controlling family and Victory Precision.

- Type: Acquisition
- Announced: 2021-09-15
- Where: China
- Value: $119.5M (771.0M CNY)
- Status: announced
- Products: customized intelligent manufacturing solutions for 3C consumer electronics and new energy, lithium battery separator production equipment
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [JOT Automation Ltd.](https://endata.com/companies/18715.md) (target)
- [Semcorp (Yunnan Energy New Material)](https://endata.com/companies/57736.md) (acquirer)
- [Victory Precision (Suzhou Victory Precision Manufacturing)](https://endata.com/companies/57737.md) (partner)
- [Suzhou Fuqiang Technology](https://endata.com/companies/57738.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/561002.html), 2021-09-15: "共同出资设立合资公司，注册资本暂定为8亿元人民币"

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