Robot companies founded by Midea and Yaskawa cease operation

Guangdong Yaskawa & Midea Industrial Robot Co., Ltd. has announced dissolution and established a liquidation team to receive the submissions of claims.

Guangdong Yaskawa & Midea Industrial Robot Co., Ltd. has announced dissolution and established a liquidation team to receive filings of claims.

The company was established in 2015 with a registered capital of 100 million yuan.

Yaskawa Electric Corporation and Midea Group respectively hold 51% and 49% of the company’s shares. Yaskawa Electric has confirmed the cessation of operation of the company.

Midea Group is one of the three major home appliance companies in China. Yaskawa Electric is the world’s largest manufacturer of industrial robots located in Japan, with 400,000 industrial robots shipped by the end of 2018.

Besides the above-mentioned industrial robot company, Midea Group and Yaskawa Electric also have jointly established a service robot company, focusing on the development and promotion of service robots in the field of medical rehabilitation for the elderly, with a registered capital of 100 million yuan as well. Yaskawa Electric also confirmed that the company had ceased operations.

According to Yaskaw, the dissolution of the two joint venture companies with Midea was due to the change of situation after Midea Group acquired KUKA.

In 2017, Midea invested 3.7 billion euros (approximately 29.4 billion yuan) to acquire 94.55% of the shares of KUKA, a German robot company, and became KUKA’s absolute controlling party.

KUKA and Yaskawa both belong to the first tier of the global industrial robotics industry, along with the other two ABB and FANUC.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/09/robot-companies-founded-by-midea-and-yaskawa-cease-operation/.

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