C▪H▪Reynolds advises shareholders of NIMAK Group on sale of shares to HGZN

Production for the European Market, North and South America and for the plants of German OEMs in Asia as well as the R&D department remain at NIMAK's German location in Wissen

(PresseBox) ( Frankfurt/Main, )
The shareholders of NIMAK Group ("NIMAK"), one of the leading suppliers of resistance welding and gluing technology as well as customized automation solutions worldwide, and Jiangsu Hagong Intelligent Robot Co., Ltd. ("HGZN") have signed an agreement on the sale of all shares of the three Nickel family lines in NIMAK Group. The contract also includes the 60% share in NIMAK China.

The transaction is expected to be completed by the end of May, 2019, subject to customary conditions including regulatory and other required approvals. The C▪H▪Reynolds team led by Felix Hoch and Markus Kluge advised the sellers on this transaction, which will set the course for further growth of NIMAK in the global environment.

NIMAK’s products are used in the automotive, consumer goods as well as in metal working sectors. The company has an outstanding market position in welding guns especially for the automotive industry and a strong market penetration in Germany, North and South America and the Asian markets.

HGZN is a diversified high-tech company and has been listed on the Shenzhen Stock Exchange since 1993 (Stock Code 000584.SZ). As a group of manufacturing companies specializing in smart manufacturing and artificial intelligence, the Group companies offer customized automation solutions and services for a wide range of industries, among others for the automotive sector.

The agreement between the current shareholders and HGZN includes a guarantee for the site in Wissen. NIMAK’s headquarter, the production for the European, North and South American market as well as for the plants of German OEMs in Asia and the R&D department will continue to be located here. This will ensure the quality and excellent performance of the products and services that NIMAK customers expect.

The current management team, headed by Dr. Niels Hammer, Managing Director of NIMAK GmbH, will continue to run NIMAK's business after the transaction is completed. Paul Nickel, the current Managing Partner, will continue to advise NIMAK and HGZN after the completion of the sale.

"Thanks to NIMAK’s products and our network in China, the future cooperation will definitely benefit to all employees of both companies. HGZN Group is confident that NIMAK, as part of our family business, has the opportunity to accelerate growth and become even more successful. In addition, we are convinced that the orientation of HGZN Group is in line with NIMAK’s core values, including its commitment to integrity, performance and innovation." said Hui Qiao, CEO of HGZN.

Markus Kluge, member of the CHReynolds management board, added: "HGZN is a perfect buyer: A group of manufacturing companies which have evolved from a family structure. The system integrators belonging to HGZN Group and existing joint ventures in the field of smart manufacturing will provide positive impetus for the future development of NIMAK and the development of other European markets such as France and Eastern Europe. At the same time, HGZN will support NIMAK’s further growth by investments. We are pleased to have contributed to this win-win-solution for all parties."

"Our goal was to provide the company and our employees a successful, sustainable and socially responsible long-term perspective," declares Paul Nickel, Managing Partner and representative of the Nickel family. "We reached this goal thanks to the professional support of CHReynolds, who advised the shareholders throughout the entire transaction process up to the contract negotiations."

About NIMAK

NIMAK is one of the leading suppliers of resistance welding and adhesive technology as well as customer-specific automation solutions. With its headquarter in Wissen, the company is considered an innovation leader by customers and users. As the inventor of the robot welding gun, NIMAK is today the largest German and one of the leading international manufacturers in this field. The joining technology specialist from the Westerwald district is the sole supplier who has the approval of all premium OEMs to meet customer-specific standards for welding guns. Further-more, the product portfolio includes manual welding guns, welding machines and gluing and dosing systems. 480 employees support customers from various industries - in particular automotive, consumer goods and metal processing - in their production challenges and accompany them into new markets or into new technological territory.

www.nimak.de/en

About HGZN

Jiangsu Hagong Intelligent Robot Co., Ltd. ("HGZN") is a publicly traded high-tech company (Stock Code 000584.SZ) with a focus on smart manufacturing and artificial intelligence in early-stage robotics research and development. The companies of HGZN Group are active in the manufacture of intelligent high-end systems for the automotive industry. The group companies offer solutions for friction stir welding (FSW) technology as well as for flexible car body manufacturing systems in the field of aluminum car bodies and non-standardized robot automation applications. The Group also manufactures intelligent robots and high-end components for industrial robots. HGZN supports the implementation of "Made in China 2025".

en.hgzngroup.com
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