China Looks to Europe to Feed Its Appetite for Technology
MIN READJun 2, 2016 | 02:40 GMT
Germany's Kuka AG is the world’s largest manufacturer of robotics for the automobile industry.
(SEAN GALLUP/Getty Images)
China's Midea Group offered a $5.1 billion bid to take over German industrial robot maker Kuka AG on May 18, but now German Economy Minister Sigmar Gabriel and his ministry are trying to put together a European consortium to block and counter the bid. As the world’s largest manufacturer of robotics for automobile manufacturing and as one of the world’s top five manufacturers for general industry, Kuka is a strategic asset for China and Germany....