Miba takes over majority stake in joint venture in China

Miba AG, listed in the Standard Market Auction segment of the Vienna Stock Exchange, signed a contract as of today’s date to increase its previous share in EBG Shenzhen Ltd., Shenzhen, China, by 30 percent from 25 to 55 percent, thus becoming the majority stakeholder in the company.

The joint venture is between Miba AG, the local industrial park (SSIP) and the management team of EBG Shenzhen Ltd. Miba AG is now taking over the share previously held by the management team, while the remaining 45 percent of shares will continue to be held by the local industrial park (SSIP).

By increasing their stake, Miba AG is driving forward the global expansion of its New Technologies Group. This division was founded in 2010 through the acquisition of two Styrian companies, EBG Elektronische Bauelemente GmbH and DAU GmbH & Co KG, and is involved in the development and production of power electronics components, among other things. EBG Elektronische Bauelemente GmbH entered the joint venture in the late 1980s; Miba AG took over those shares in 2010.

EBG Shenzhen Ltd. produces high-power resistors used in power electronics of frequency converters or in modern medical technology. The company generates annual sales revenue of EUR 10 million and employs a staff of 200.