{"id":30441,"date":"2024-10-10T11:44:00","date_gmt":"2024-10-10T11:44:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4528131_CN28131_0"},"modified":"2024-10-10T11:44:00","modified_gmt":"2024-10-10T11:44:00","slug":"smec-signed-mou-for-acquisition-of-hyundai-wias-machine-tool-division","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=30441","title":{"rendered":"SMEC signed MOU for acquisition of Hyundai Wia’s Machine Tool Division"},"content":{"rendered":"

SMEC expects to<\/i><\/b> solidify its position as one of the top two companies in the machine tool market. <\/i><\/b><\/p>\n

SMEC expands its business from semiconductors and<\/span><\/i><\/b> IT <\/span>to automobile to maximize synergy.<\/i><\/b><\/p>\n

LOS ANGELES<\/span><\/span>, Oct. 10, 2024<\/span><\/span> \/PRNewswire\/ — SMEC Co., Ltd (099440), a machine tool and robot automation solution company, announced on October <\/span>10th that it has signed a Memorandum of Understanding (MOU) for the acquisition of Hyundai Wia’s Machine Tool Division. The estimated acquisition cost is about 340 billion won<\/span>.<\/p>\n

SMEC has formed a consortium with Rylson Private Equity, a private equity fund operator (PE), to negotiate the acquisition of Hyundai Wia’s Machine Tool Division. SMEC and Hyundai Wia’s Machine Tool Division are top-tier machine tool companies in Korea, and Rylson PE, which will participate as a F<\/span>inancial Investor (FI), is an emerging powerhouse in the private equity industry. <\/p>\n

The key synergy of the acquisition will be generated in that SMEC and Hyundai Wia’s Machine Tool Division have different frontline industries in which they have strength despite their competitive relations. When SMEC, which has strengths in the IT industry, combines with Hyundai Wia’s Machine Tool Division, which focuses on the automotive industry, a machine tool company encompassing the both major sectors of the machine tool market will be created.<\/p>\n

In addition, SMEC, which has strong points in the multi-product small-quantity production system centered on semiconductor and IT, will bring about new synergies by acquiring Hyundai Wia’s Machine Tool Division, which has secured global finished car manufacturers as its main clients, thereby adding a new large Captive Market.<\/p>\n

Synergies in the global market are also anticipated. The global network of the two companies is expected to more than double in current 29 countries, and the expansion of the product portfolio is likely to increase market share by country. In addition, significantly enhanced purchasing power in terms of parts and raw material procurement is likely to lead cost reduction. The integration of parts supply chain and warranty network is also expected to increase efficiency. <\/p>\n

Synergies are expected to be evident in technological capabilities as well. Combining Hyundai Wia’s high-speed production and production capacity, with SMEC’s cutting technology, it will be able to secure a wide range of product lines suitable for diverse industries as well as high-spec and high-end equipment.<\/p>\n

According to these various synergies, the two companies, SMEC and Hyundai Wia’s Machine Tool Division, are expected to experience a significant increase in sales and improvement in profit margins compared to before the acquisition.<\/p>\n

A SMEC official stated, “We will successfully complete the acquisition and establish a two-major pillar structure in the domestic machine tool market,” adding, “A<\/span> seismic shift is expected in the domestic machine tool market and industrial robot market. It will also leap forward as a global machine tool company through its external growth and synergies from the acquisition.”<\/p>\n

Meanwhile, SMEC has been actively targeting the high-end markets in the United States<\/span> and Europe<\/span>, achieving high growth in terms of sales and profits, while Hyundai Wia’s Machine Tool Division is recording earnings growth following the growth in the electric vehicle market.<\/p>\n","protected":false},"excerpt":{"rendered":"

SMEC expects to solidify its position as one of the top two companies in the machine tool market. SMEC expands its business from semiconductors and IT to automobile to maximize synergy. LOS ANGELES, Oct. 10, 2024 \/PRNewswire\/ — SMEC Co., Ltd (099440), a machine tool and robot automation solution company, announced on October 10th that it […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-30441","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"\nSMEC signed MOU for acquisition of Hyundai Wia's Machine Tool Division - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=30441\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SMEC signed MOU for acquisition of Hyundai Wia's Machine Tool Division - My Blog\" \/>\n<meta property=\"og:description\" content=\"SMEC expects to solidify its position as one of the top two companies in the machine tool market. SMEC expands its business from semiconductors and IT to automobile to maximize synergy. 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