Ad hoc announcement pursuant to Art. 53 LR
Tornos to become independent in China
The Tornos Group wants to independently develop its subsidiary in China, Tornos (Xi’an) Machine Works Co., Ltd., and will therefore buy back the 30% minority share capital stake held by the Chinese company Shaanxi Robot Automation Technology Co., Ltd. by the end of 2019 at the latest.
The site in Xi’an received ISO 9001 certification in 2018, and Tornos (Xi’an) Machine Works Co., Ltd. is due to move in to new premises this year.