Hitachi Ltd. said Wednesday it has reached a deal to buy U.S. assembly robot-maker JR Automation Technologies LLC for $1.43 billion (¥160 billion) to strengthen its factory automation business in the American market.
Hitachi said it agreed Tuesday to buy the manufacturer from private equity firm Crestview Partners, which holds a 93 percent stake in the company. The Japanese manufacturer will acquire all shares in the Michigan-based technology provider by the end of this year.
JR Automation Technologies was founded in 1980 and has strengths in automated manufacturing and technology solutions. The company has about 2,000 employees at 23 manufacturing facilities in North America, Europe and Asia, it said.
Hitachi has expanded its factory automation business in the United States since buying U.S. air compressor-maker Sullair LCC in 2017.