Industrial network technology
Weidmüller participates in ORing
The Weidmüller Group has acquired a minority stake in the Taiwanese ORing Industrial Networking Corporation with the signing of a contract on May 31. The parties have agreed not to disclose the purchase price.
With the minority shareholding, Weidmüller intends to strengthen its strategic partnership with ORing and also deepen the technological cooperation. Volker Bibelhausen, Chief Technology Officer of the Weidmüller Group, commented on the signing of the contract: "We are strengthening Weidmüller's position in order to establish ourselves as a recognized player in the Industrial Internet of Things - with the acquisition of this stake, we are taking an important step in this direction. We are also expanding our presence in Asia."
Angus Shih, Founder, Chief Technology Officer and Sales & Technical Leader at ORing added: "ORing will continue as an independent company, but with Weidmüller's expertise and global footprint, we will work even more consistently and successfully on joint IIoT solutions for our worldwide markets."
As a result of the takeover, ORing, which employs 150 developers and technicians worldwide, is putting together a dedicated development team for Weidmüller and relocating its European headquarters from Poland to Paderborn in East Westphalia at the new Weidmüller site at Zukunftsmeile 2.
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