Published on December 7th, 2017 | by The GC Team0
Miele to increase its stake in Korean partner Yujin Robot
The German domestic appliance company Miele is set to intensify its strategic cooperation with the Korean robotics specialist Yujin. The company is currently producing the jointly developed Scout robovac for Miele. The common goal of the two companies is “to open up new applications in the field of robotics.” To this end, Yujin is increasing its equity and, as part of this, the Miele Group is injecting € 40m capital.
Yujin Robot, founded in 1988 in the Korean capital Seoul, develops, produces and markets robotic products and components for use in households, businesses, logistics and further applications. Yujin has an annual turnover of € 45m. Miele is a global premium manufacturer of domestic appliances and commercial machines. In floor care, Miele is market leader in Europe with annual sales in excess of 2.5m units.
The partnership between the two companies dates back to 2012 and the joint development of a robovac for domestic use, and the Miele Scout RX1 has been established in the marketplace since 2014. The turn of the year will see the launch of its successor, the Scout RX2, with a three-fold increase in suction power, finer-tuned navigation and useful features such as the transmission of live images from the home to a tablet PC or smartphone. The Scout RX2, too, was jointly developed by the two partners and is produced by Yujin.
Miele’s increased stake in Yujin is an expression of both parties’ intention to sustainably intensify and expand their cooperation. This goes beyond the robovac segment which continues to experience strong growth.
The two companies have a mutual interest in developing automation in both domestic products and robotics for Smart Manufacturing.