Yushin Precision Equipment Co. Ltd. is acquiring Värnamo, Sweden-based Wemo Automation AB, a maker of linear robots and automation cells for injection molding.
Kyoto, Japan-based Yushin bought the business from Rheinböllen, Germany-based Hahn Group GmbH. Yushin sells similar take-out robot products in Asia and North America and will operate Wemo as a subsidiary.
"Under Wemo's leadership, Yushin can expand its market position in Europe and benefit from Wemo's broad distributor network," Yushin CEO Takayo Kotani said in a news release.
Founded in 1987, Wemo posted 2022 sales of 121.4 million Swedish krona ($11.5 million).
Hahn officials said it was time to find Wemo and its standardized products a new partner. Hahn will focus on selling tailor-made factory automation to automotive, medical technology, electronics and consumer goods customers.
"After the rapid growth of the last few years, the Hahn Group is focusing even more on its core business as a manufacturer-independent integrator for factory automation. Nevertheless, we want to live up to our obligation to find the most successful perspective for every company and team and are therefore pleased to be able to win Yushin as a stable partner for Wemo," Hahn Group Co-CEO Philipp Unterhalt said.
Wemo CEO Johannes Kjellgren said he sees opportunities for the company and its employees.
"We already speak the same language in terms of linear robotics, quality standards and ambitions. With further innovations and the leadership of the European market, Wemo is now given new momentum for further growth," Kjellgren said.
The deal is expected to be completed within the next weeks.