Hagong Intelligent Robot

Hagong Intelligent Robot was selected as the winning bidder to acquire all equity in German firm Nimak, a producer of robotic welding guns, for EUR88 million ($100.1 million). The deal requires regulatory approvals from Germany and China.

Hagong Intelligent Robot and Hyundai Heavy Industries signed a letter of intent to invest CNY200 million in a joint venture in China to produce and sell industrial robots. Hagong will hold 70% and Hyundai 30%.

Hyundai Heavy Industries Holdings signed an agreement with Chinese robot maker Hagong Intelligent Robot Co. to set up a joint venture and build a smart factory with annual capacity of up to 20,000 industrial robots by the first half of 2019.

Hagong Intelligent Robot signed a cooperation agreement with Hyundai Heavy Industries Holdings to work jointly in the Chinese market, with a possible future joint venture.

Hagong Intelligent Robot's subsidiary ASSET Industrial Equipment won an 82.525 million yuan contract to provide smart welding robots for Changan Automobile's assembly line expansion in Chongqing.