Company operates 27 facilities and employs more than 1,500 worldwide; identity of Shanghai-based buyers to remain undisclosed until deal closes
WINDSOR, Ont.—A undisclosed group of Chinese companies has signed an agreement to buy Ontario-based automation firm, Valiant TMS.
Few details of the deal have been released.
The Solcz Group Inc., the Windsor-based holding company that controls Valiant, said the Chinese consortium is made up of several Shanghai firms and financial partners working to establish a presence in Industry 4.0. The company said the identity of the buyers will not be disclosed until after the sale is completed.
The purchase price also remains undisclosed.
“For over 57 years, Valiant TMS has been committed to delivering our customers optimal automation and tooling solutions globally,” Marty Solcz, the holding company’s chairman, said in a statement. “The resources of the Chinese consortium will assist Valiant TMS to serve our customers in new regions and realize opportunities in expanded sectors in an ever-changing global marketplace.”
Headquartered in Windsor, Ont., the Valiant manufactures automated production systems and specialized tooling for a range of industries, including the automotive and aerospace sectors. It was founded in 1959 by Michael Solcz and has grown into a major player in the automation industry, operating 27 facilities across 15 countries and employing more than 1,500.