ABB China to become shareholder of Hasco Shanghai's subsidiary at 40%

Beijing (Gasgoo)- China’s auto parts conglomerate Hasco Group's subsidiary, Hasco Shanghai has struck a package deal with ABB Group’s China subsidiary, ABB China, regarding joint venture and capital increase aspects, to deepen their cooperation in the intelligent manufacturing field.  

Photo credit: Hasco

Per the agreements, Hasco Shanghai’s wholly-owned Huayu Intelligence Equipment & Technology Co., Ltd. will introduce ABB China as a new investor. Upon the deal completion, Huayu Intelligence Equipment & Technology will become a joint venture between Hasco and ABB China, with 60% and 40% stake each.

According to public records, Huayu Intelligence Equipment & Technology is the only intelligent equipment-making sub-subsidiary of Hasco. The company offers production line integration, hardware connection, data collection, intelligent logistics, equipment customization, and technology consultation products and services. Huayu Intelligence Equipment & Technology has already accumulated design, optimize, implement and upgrade capabilities for software/hardware integrated digitalized factory solutions.  

Additionally, the joint investment will benefit Huayu Intelligence Equipment & Technology greatly. The company will be able to learn from ABB’s global success in the industrial automation field, giving full play to its shareholders’ resources and advantages within the industry. The company can form a comprehensive application capability regarding control, drive, robotics and sensor analysis, providing one-stop modern production lines and intelligent upgrade solutions for customers.