Trumpf buys 72% of Chinese company

Trumpf, a family-owned German industrial company, has acquired a 72% stake in Chinese machine tool producer Jiangsu Jinfangyuan (JFY) CNC Machine Company,


Industrial Laser Solutions

reported.

Terms of the deal were not disclosed.

The JFY brand will remain independent, and JFY will keep its management team, the

Industrial Laser Solutions

article said.

In fiscal year 2012-13, Trumpf increased its sales to €2.34 billion, the highest in its 90-year history but only about 1% over the previous year’s figure, the article said.

Trumpf CEO Nicola Leibinger-Kammüller is “one of Germany’s most high-profile female executives,”

a

Financial Times

article said.

The deal with JFY was the largest in Trumpf’s history, the

FT

article said. (Sources:

Industrial Laser Solutions,

Oct. 17, 2013;

Financial Times,

Oct. 17, 2013.)