Robotics maker acquires US company Paslin Co

Chinese robotics maker Zhejiang Wanfeng Technology Development Co Ltd has acquired Paslin Co, a US robotics firm focused on the automotive sector, for $302 million.

Wu Jinhua, Wanfeng's chairman and CEO, said: "Paslin has accumulated advanced technologies and client groups in the field of automated welding in North America, and this acquisition could not only help Paslin realize its globalization, but also enhance Wanfeng's competitiveness in industrial robot system integration technology."

Wu called the acquisition a win-win situation.