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Kuka owner Midea unveils new household robot

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Midea Group, a massive manufacturing company known mainly for making household appliances like washing machines and for being the parent of industrial robot giant Kuka, has unveiled a new product in the household robotics space.

The Chinese company has released details of its next-generation robot vacuum cleaner, the S8+ auto-dust-collection robot, made by Midea Robozone Technology, a subsidiary of Midea Group. The S8+ joins Midea’s intelligent cleaning product line that provides optimum performance covering all household cleaning solutions.

Alice Shaw, vice president, sales and marketing management at Robozone, says: “As an innovator in smart cleaning technology, I’m proud to say that Midea is reaffirming its leadership in the smart home industry by revolutionizing high-performance robot vacuum cleaners to provide more convenience to our global customers. [Read more…] about Kuka owner Midea unveils new household robot

Kuka CEO Till Reuter leaves role after 10 years

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Dr Till Reuter has ended his time as the CEO of Kuka after a decade at one of the world’s largest industrial robot manufacturers.

Kuka is a German industrial automation company which was established 120 years ago and last year generated revenue of almost $4 billion.

In 2016, Chinese home appliances manufacturing giant Midea increased its stake in the company and completed its takeover in 2017.

Reuter’s decision to leave the company in December is said to be in agreement with the supervisory board. Peter Mohnen is appointed to take over and the company says this ensures continuity.  [Read more…] about Kuka CEO Till Reuter leaves role after 10 years

Kuka expands China business

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Kuka is to combine its Chinese general industry business and the Chinese Swisslog business by setting up joint ventures with Midea Group companies. The respective shareholders of the joint venture companies will each have a stake of 50%.

The Robotics joint venture will be controlled by Kuka and the Chinese automotive business will fully remain with Kuka.

These joint ventures will significantly increase market penetration in China and expand Kuka’s Chinese business.

[Read more…] about Kuka expands China business

Midea launches deep learning artificial intelligence initiative

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Midea, one of the world’s largest manufacturers of household appliances, has launched an ambitious artificial intelligence project through which the company is looking to transform its business.

The company says the “Midea Brain” project will accelerate Midea’s speed of innovation and product and application development in the AI field.

In the last two years, artificial intelligence especially deep learning, has emerged as a major technology trend.  [Read more…] about Midea launches deep learning artificial intelligence initiative

Kuka expects to double its business to more than $1 billion through Midea’s China connections

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Industrial robot maker Kuka is forecasting sales of more than $1.24 billion in China by 2020, which would be more than double the volume of business it currently does in the country. 

This is according to a report on the South China Morning Post website, which adds that Kuka is looking to make the most of parent company Midea’s China connections.

Kuka reported global sales of $4.3 billion worldwide for 2017, and currently does approximately $558 million worth of business in mainland China now.  [Read more…] about Kuka expects to double its business to more than $1 billion through Midea’s China connections

Midea goes from home appliance giant to Fortune 500 company

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Midea is evolving from a home appliance manufacturing giant into one of the world’s top 500 technology companies

The 2017 Fortune Global Forum will be held in Guangzhou, China from December 6-8.

Attended by leaders and CEOs of the world’s top companies, the event is in its 22nd year and is deemed one of the most influential economic development forums in the world.

Midea, which in recent months emerged as a “dark horse” due to its impressive transformation into a global technology group, will be partnering the Fortune Global Forum for the very first time.  [Read more…] about Midea goes from home appliance giant to Fortune 500 company

Midea’s new robots could replace 400,000 pharmacists in China

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Midea, the Chinese giant manufacturing giant which makes household appliances such as washing machines and refridgerators, is launching robot pharmacists which would put 400,000 humans out of work. 

That may sound unlikely in the short term, but market analysts quoted by Bloomberg estimate that robots will account for 20 per cent of all pharmaceuticals sales by 2020.

Moreover, Midea chairman and CEO Paul Fang acknowledges the potential revolution the company’s robots could start.  [Read more…] about Midea’s new robots could replace 400,000 pharmacists in China

Midea embarks on journey to transform itself into a ‘high-tech industry leader’

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Chinese home appliances giant Midea says it has completed its acquisition of German company Kuka, one of the world’s largest industrial robot manufacturers. 

While the deal prompted some consternation among those who said the German government should stop the takeover, as well as with those people who subsequently demanded the European Union make it more difficult for Chinese companies to buy EU companies, the two companies are now part of the same group.

Technically, Kuka was acquired by Midea’s subsidiary company, Mecca International.  [Read more…] about Midea embarks on journey to transform itself into a ‘high-tech industry leader’

EU expected to make it more difficult for foreign companies to buy European companies

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The European Union is re-examining the rules governing takeovers of European companies by investors from outside the EU. 

The reassessment comes in the aftermath of the takeover of German robotics and industrial automation company Kuka by Chinese household appliances maker Midea.

Midea’s acquisition of Kuka – for about $4 billion – was said by Bloomberg to be part of a “global acquisitions spree” by the Chinese company.  [Read more…] about EU expected to make it more difficult for foreign companies to buy European companies

Kuka to double production capacity in China in bid to overtake ABB and Fanuc

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Kuka is determined to take advantage of its alliance with Chinese household appliances manufacturing giant Midea to become the largest robot maker in China. 

Already one of the largest industrial robot manufacturers in the world, Kuka was taken over by Midea some months ago in a move currently being scrutinised by the European Union, which may change its merges and acquisitions policies as a result.

Such technicalities aside, Kuka is bullish about opportunities in China and has reportedly decided to double its production capacity in the country.  [Read more…] about Kuka to double production capacity in China in bid to overtake ABB and Fanuc