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CMS, China advises Trumpf on acquisition of Chinese engineering firm JFY

Engineering company Trumpf has acquired 72 per cent of Chinese machine tool maker Jiangsu Jinfangyuan (JFY).

This investment is the biggest in the company's history and is designed to strengthen Trumpf’s position in the Chinese market. The purchase price was not disclosed.
A team led by the managing partner of CMS, China's Shanghai office, Dr Ulrike Glück, advised Trumpf on all aspects of the transaction from the start, liaising closely with Peter Bokelmann, general counsel at Trumpf. CMS, China has been advising Trumpf in China for some time.
According to information provided by the family-owned business, Trumpf generated sales of around EUR2.34bn in the most recent accounting period. It has almost 10,000 employees. Sales in China amounted to some EUR180m in the last financial year. JFY generated sales of around EUR67m in the past year with 680 employees.

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