JOT Automation to join the Chinese Wuxi Lead Intelligent Equipment in a transaction of EUR 74 million

A share purchase agreement has been signed for the sale and purchase of JOT Automation, a company specializing in production automation and test solutions for the electronics industry, between the main owner of JOT and the Chinese stock exchange-listed company Wuxi Lead Intelligent Equipment CO., LTD.

The main owner of JOT, Oulu-based family company Head Invest Ltd, has signed the share purchase agreement for the entire stock of JOT automation Ltd to the Chinese stock exchange-listed company Wuxi Lead Intelligent Equipment Co., LTD. The transaction is intended to finalize during 2016. This transaction will strengthen both JOT's and Wuxi's position on international markets.

- JOT has always been a pioneer in its industry and gone through many changes in the forefront. Now, the time has come for another change. Joining the Wuxi Lead Group means that JOT's story, relying on a history of nearly 30 years, can continue and grow in Finland and in Oulu, says Veikko Lesonen, founder of JOT, entrepreneur and Chairman of Head Invest Ltd's Board.

- I am convinced that Wuxi Lead is a good buyer, and it shares our principles: quality, customers and growth. I believe that this transaction is a major success factor for the company, as well as for the entire Oulu region, Lesonen continues.

Wuxi Lead's CEO and Chairman of the Board Yanqing Wang emphasizes that this is a long-term strategic investment.

- I'm very impressed by JOT's successful history, technological knowhow and especially the personnel. The Oulu region with its innovativeness and vitality have also made an impression on me and I'm looking forward to the opportunity to cooperate in the area, says Wang.

- This transaction represents a significant leap in JOT's globalization and helps the company to strengthen its position as a leading global supplier of automation solutions. Our aim is to make JOT the world's leading operator in its field, Wang states.

Wuxi Lead's main markets are in America, Germany and Japan. In addition, the company has customers in more than 20 other countries.

- JOT is going strong; our net sales increased by over 30% last year, and we are expecting similar growth figures for this year, says Pekka Rantala, Chairman of JOT Automation Ltd's Board.

- We have competent management, very skilled and committed employees, and high-quality products and solutions. The strengths of JOT and Wuxi Lead complement each other efficiently. By combining them, we can offer our customers the best of European–Oulu-based design and engineering expertise and Chinese mass manufacturing capabilities in an unforeseen manner, Rantala says.

Head Invest Ltd's CEO Arto Ylimartimo points out that JOT has been an important, integral part of Head Invest's industrial structure.

- After this transaction, Head Invest can focus on its other two businesses: wellbeing and environmental technology. We see particularly significant business growth potential in  the exhaust aftertreatment solutions for diesel engines developed by Proventia, and the related new synergy businesses.

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