Smartech Machinery and Equipment Co., Ldt completed the acquisition of 10% stake in Nicolas Correa Machine Tools Company Ltd. from Nicolás Correa S.A..
December 13, 2016
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Smartech Machinery and Equipment Co., Ldt acquired 10% stake in Nicolas Correa Machine Tools (Kunming) Company Ltd. from Nicolás Correa S.A. (BME:NEA) for €0.48 million on December 13, 2016. Post-acquisition Nicolás Correa S.A. will hold 45% stake in the Nicolas Correa Machine Tools (Kunming) Company Ltd.
Smartech Machinery and Equipment Co., Ldt completed the acquisition of 10% stake in Nicolas Correa Machine Tools (Kunming) Company Ltd. from Nicolás Correa S.A. (BME:NEA) on December 13, 2016.
Nicolas Correa SA is a Spain-based company primarily engaged in the design and manufacture of milling machines. The Company mainly specializes in the provision of milling solutions for the manufacturers of dies and large moulds, monolithic elements for aerospace, railway, as well as energy and general mechanical sectors, among others. The Company's activities are divided into two segments: Industrial and Commercial. The Industrial division designs and produces gantries, travelling columns, as well as bed- and bridge-type milling machines, which are distributed under the Correanayak brand name. The Commercial division is responsible for the distribution of its milling machines, as well as provision of technical advisory and maintenance services. The company operates in Spain, Portugal, Germany, China and the United States, among others, through a number of subsidiaries, such as NC Manufacturing SA, Nicolas Correa Deutschland GmbH and Tiger Machinery Parts Co.
Smartech Machinery and Equipment Co., Ldt completed the acquisition of 10% stake in Nicolas Correa Machine Tools Company Ltd. from Nicolás Correa S.A..