Porsche Acquires Kuka’s Mechanical Engineering Business

Porsche Acquires Kuka’s Mechanical Engineering Business

Luxury sports-car manufacturer Porsche decided to buy industrial robotics company Kuka’s mechanical engineering division to strengthen its expertise in shaping lightweight aluminum into complex forms.

The price was not disclosed, although industry experts suggested €25 million ($28.4 million).

The division employed about 600 people. Kuka had developed into a manufacturer of robots used in automotive plants worldwide.

Porsche chief executive Matthias Müller said the deal was central to plans for future sports cars.

The division became a wholly owned Porsche subsidiary. Porsche belongs to Volkswagen, Europe’s largest automaker.

Car manufacturers are increasing lightweight aluminum and carbon-fiber components to reduce fuel consumption.