Shanghai Electric buys BAW group
By Wu Yiyao in Shanghai | China Daily | Updated: 2016-08-16 07:48
Automated aviation equipment manufacturer's clients include industry giants Airbus, Boeing
Shanghai Electric Group announced it is buying German aviation equipment manufacturer Broetje-Automation GmbH for 170 million euros ($190 million), a move the company said would help it tap into the aviation equipment automation and manufacturing sector's technologies.
Shanghai Electric said on Sunday it will also assume 12 million euros of unpaid BAW debt under the terms of the acquisition.
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