Germany-based KUKA signed a letter of intent to acquire an interest in Reis Robotics, Elgin, Ill. KUKA proposes to purchase a 51% stake in the systems integration manufacturer with an option to acquire additional shares. The Reis family is currently the company's sole owner and will retain a 49% share upon deal closing. Other details about the transaction are subject to approval by the anti-trust authorities.
Reis is a systems integrator, as well as developer and maker of industrial robotics and robot controllers for a wide range of market sectors. The company applies robots and systems in numerous industrial processes such as welding, cutting and laser machining, as well making castings and plastic components.
"Reis is an excellent fit for KUKA's long-term strategy. We want to penetrate new general industry sectors together, and above all, expand our presence in China. We also see considerable potential for joint product development,” says Dr. Till Reuter, chief executive officer of KUKA AG.
"In KUKA, we have found the right partner to further strengthen the outstanding market position of our family enterprise,” says Dr. Eberhard Kroth, spokesman of Reis Group Holding GmbH . “Reis stands for innovation strength and outstanding product quality – our technological standards and customer commitment tie us to KUKA."