Reported 8 months ago
Luo Sheng and Utech announced their joint investment in Taiwan's largest bundling machine manufacturer, Yijin Industrial (brand name TRANSPAK), on June 24, 2024, at 4:10 pm. The collaboration aims to strengthen AI smart automation layout and provide customers with intelligent packaging stacking one-stop solutions, creating synergies in product and channel resources. Through this partnership, with Luo Sheng's presence in Greater China and Yijin's foothold in Europe and America, a win-win situation is expected. Yijin, holding over 70% of its revenue in Europe and America, is poised to benefit from the booming global packaging machine market, estimated to reach $7.73 billion by 2029 with a 5.2% compound annual growth rate. Utech's General Manager, Su Jiahong, expressed that the cooperation with Yijin would significantly advance Utech's presence in the field of automation, as well as deepen their influence in the European and American automation markets.
Source: YAHOO