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Phoenix Mecano Group plans to acquire an 80% stake in China-based Mei Hui Machinery Co., Ltd., a metalworking specialist in Zhejiang Province. The transaction is expected to close in 2019, subject to regulatory approvals.
KUK Group AG took over the shares of Wijdeven from Phoenix Mecano AG, effective May 31, 2018. The acquisition aims to leverage KUK's expertise in serial production of coils and transformers for Wijdeven's operations in the Netherlands.