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"The
bid, as it has been announced, can support our strategy," Till
Reuters told shareholders at Kuka's annual general meeting.
"We have set ourselves a goal of reaching a billion euros in
sales by 2020. A partner who supports this strategy and provides
us with better market access could be a considerable growth
driver for Kuka."
China is the world's biggest market for industrial robots. The
number of robots sold in China rose 16 percent last year,
driving global sales up 8 percent.
Kuka is the latest and biggest German industrial technology
group to be targeted by Chinese buyers as the world's
second-largest economy makes the transition from a low-cost
factory location into a high-tech industrial hub.
Kuka's management and supervisory boards have not yet made
official recommendations to shareholders about the Midea bid,
which has still to be launched.
(Reporting by Jens Hack; Writing by Georgina Prodhan; Editing by
Maria Sheahan)
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