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Luxembourg-based sensing specialist IEE announced that a consortium of Chinese investors has acquired the company, IEE S.A. This consortium consists of two strategic investors: HiWing, a high-tech industrial group and SAIC Luxembourg, a subsidiary of SAIC Hong Kong from the automotive industry; and a financial investor: Ascend Capital together with OFFHAM Technology. Guangrong Han, IEE’s new Chairman representing the investor consortium, stated: “The new shareholders will focus on keeping IEE on a path of sustainable development. We will maintain IEE's brand and operations as an independent entity.
There will be no reduction in the number of employees as a result of the acquisition and we will not relocate the Luxembourg production facilities to China. We will support...
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