Network infrastructure and IIoT
Weidmüller participates in ORing
The Weidmüller Group has acquired a minority stake in the Taiwanese ORing Industrial Networking Corporation by signing a contract on May 31, 2019. With the minority stake, the Detmold-based company is strengthening its strategic partnership with ORing and enabling a deepening of the technological cooperation. The parties have agreed not to disclose the purchase price.
Volker Bibelhausen, Chief Technology Officer of the 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 shareholding, we are taking an important step in this direction. We are also expanding our presence in Asia and will benefit from ORing's high level of development expertise."
Angus Shih, Founder, Chief Technology Officer and Sales & Technical Leader of the Taiwanese family-owned company 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. By adopting the German working attitude in the ORing family, we look forward to cultivating the same spirit of excellence to take us to the next level of high-quality product development and corporate governance. I am delighted to have Weidmüller join us and look forward to the deeper collaboration that is about to begin."
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. "The cooperation between Weidmüller and ORing and the many years of expertise of the employees in the field of software and programming will also benefit the East Westphalia-Lippe region and the Paderborn site," says Bibelhausen.
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